RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM – Get Free Report) declared a monthly dividend on Wednesday, July 1st. Investors of record on Friday, October 16th will be paid a dividend of 0.0881 per share on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 16th.
RiverNorth Flexible Municipal Income Fund Stock Performance
Shares of RFM opened at $14.81 on Thursday. The company has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $14.36. RiverNorth Flexible Municipal Income Fund has a one year low of $13.68 and a one year high of $14.90.
Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC grew its position in shares of RiverNorth Flexible Municipal Income Fund by 318.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 47,654 shares of the company’s stock worth $669,000 after buying an additional 36,267 shares during the period. Royal Bank of Canada lifted its position in RiverNorth Flexible Municipal Income Fund by 35.7% during the 1st quarter. Royal Bank of Canada now owns 67,484 shares of the company’s stock valued at $947,000 after acquiring an additional 17,738 shares during the period. NewEdge Advisors LLC lifted its position in RiverNorth Flexible Municipal Income Fund by 322.8% during the 2nd quarter. NewEdge Advisors LLC now owns 23,005 shares of the company’s stock valued at $321,000 after acquiring an additional 17,564 shares during the period. Closed End Fund Advisors Inc. purchased a new position in RiverNorth Flexible Municipal Income Fund during the 4th quarter valued at about $219,000. Finally, &PARTNERS bought a new position in shares of RiverNorth Flexible Municipal Income Fund during the fourth quarter valued at approximately $214,000.
About RiverNorth Flexible Municipal Income Fund
The RiverNorth Flexible Municipal Income Fund, Inc seeks to provide current income exempt from regular U.S. federal income taxes1 with a secondary objective of total return.
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