RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Stock Price Up 0.8% – What’s Next?

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)’s stock price rose 0.8% during trading on Wednesday . The company traded as high as $14.66 and last traded at $14.65. Approximately 7,592 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 29,431 shares. The stock had previously closed at $14.54.

RiverNorth Flexible Municipal Income Fund Stock Performance

The company has a 50-day moving average of $14.36 and a two-hundred day moving average of $14.26.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.0881 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 7.3%.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its stake in shares of RiverNorth Flexible Municipal Income Fund by 322.8% in the 2nd quarter. NewEdge Advisors LLC now owns 23,005 shares of the company’s stock valued at $321,000 after purchasing an additional 17,564 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new stake in RiverNorth Flexible Municipal Income Fund during the 4th quarter worth approximately $219,000. &PARTNERS purchased a new position in RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at approximately $214,000. LPL Financial LLC acquired a new position in RiverNorth Flexible Municipal Income Fund during the fourth quarter valued at approximately $162,000. Finally, Rivernorth Capital Management LLC purchased a new stake in RiverNorth Flexible Municipal Income Fund during the fourth quarter worth approximately $159,000.

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.