RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Shares Up 0.1% – Still a Buy?

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)’s stock price traded up 0.1% during trading on Monday . The stock traded as high as $15.28 and last traded at $14.96. 49,776 shares traded hands during mid-day trading, an increase of 174% from the average session volume of 18,160 shares. The stock had previously closed at $14.95.

RiverNorth Flexible Municipal Income Fund Stock Performance

The business’s 50 day simple moving average is $15.36 and its two-hundred day simple moving average is $15.64.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.094 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date is Friday, March 14th.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Noble Wealth Management PBC acquired a new position in RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at $103,000. Raymond James Financial Inc. acquired a new position in shares of RiverNorth Flexible Municipal Income Fund in the 4th quarter valued at about $186,000. Apollon Wealth Management LLC bought a new stake in shares of RiverNorth Flexible Municipal Income Fund during the 4th quarter valued at about $208,000. Virtu Financial LLC acquired a new stake in RiverNorth Flexible Municipal Income Fund during the fourth quarter worth approximately $385,000. Finally, SteelPeak Wealth LLC increased its holdings in RiverNorth Flexible Municipal Income Fund by 36.4% in the fourth quarter. SteelPeak Wealth LLC now owns 26,250 shares of the company’s stock worth $390,000 after purchasing an additional 7,000 shares in the last quarter.

RiverNorth Flexible Municipal Income Fund Company Profile

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.