RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Trading Up 0.1% – Should You Buy?

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)’s share price shot up 0.1% during trading on Monday . The company traded as high as $15.28 and last traded at $14.96. 49,776 shares were traded 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 Price Performance

The business has a 50 day simple moving average of $15.36 and a 200 day simple moving average of $15.64.

RiverNorth Flexible Municipal Income Fund Announces Dividend

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

Institutional Trading of RiverNorth Flexible Municipal Income Fund

Hedge funds have recently modified their holdings of the stock. Apollon Wealth Management LLC acquired a new position in RiverNorth Flexible Municipal Income Fund during the 4th quarter worth $208,000. Wolverine Asset Management LLC lifted its stake in shares of RiverNorth Flexible Municipal Income Fund by 118.4% during the fourth quarter. Wolverine Asset Management LLC now owns 103,215 shares of the company’s stock valued at $1,535,000 after acquiring an additional 55,952 shares during the period. Noble Wealth Management PBC bought a new position in RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at about $103,000. SteelPeak Wealth LLC boosted 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 valued at $390,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in RiverNorth Flexible Municipal Income Fund in the fourth quarter worth about $186,000.

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.