RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Insider Acquires $31,284.25 in Stock

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) insider Financial Holdings Rivernorth purchased 2,165 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average cost of $14.45 per share, for a total transaction of $31,284.25. Following the completion of the purchase, the insider directly owned 18,675 shares of the company’s stock, valued at approximately $269,853.75. This represents a 13.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Financial Holdings Rivernorth also recently made the following trade(s):

• On Tuesday, November 4th, Financial Holdings Rivernorth bought 4,257 shares of RiverNorth Flexible Municipal Income Fund stock. The stock was acquired at an average price of $14.40 per share, with a total value of $61,300.80.
• On Thursday, October 30th, Financial Holdings Rivernorth acquired 200 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were purchased at an average price of $14.28 per share, with a total value of $2,856.00.
• On Wednesday, October 29th, Financial Holdings Rivernorth acquired 100 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were purchased at an average price of $14.31 per share, with a total value of $1,431.00.
• On Tuesday, October 28th, Financial Holdings Rivernorth acquired 881 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were purchased at an average price of $14.31 per share, with a total value of $12,607.11.
• On Friday, October 24th, Financial Holdings Rivernorth acquired 141 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were acquired at an average price of $14.30 per share, for a total transaction of $2,016.30.
• On Thursday, October 23rd, Financial Holdings Rivernorth acquired 3,216 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were acquired at an average price of $14.30 per share, for a total transaction of $45,988.80.
• On Wednesday, October 22nd, Financial Holdings Rivernorth acquired 3,352 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were acquired at an average price of $14.30 per share, for a total transaction of $47,933.60.
• On Tuesday, October 21st, Financial Holdings Rivernorth acquired 4,363 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were acquired at an average price of $14.35 per share, for a total transaction of $62,609.05.

RiverNorth Flexible Municipal Income Fund Stock Performance

RFM traded down $0.06 during trading on Thursday, hitting $14.39. 6,229 shares of the company’s stock were exchanged, compared to its average volume of 24,133. The business’s 50 day moving average is $14.29 and its two-hundred day moving average is $14.11. RiverNorth Flexible Municipal Income Fund, Inc. has a fifty-two week low of $13.14 and a fifty-two week high of $16.15.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.094 per share. The ex-dividend date is Monday, December 15th. This represents a c) annualized dividend and a yield of 7.8%.

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Institutional investors have recently bought and sold shares of the stock. SteelPeak Wealth LLC grew its holdings in RiverNorth Flexible Municipal Income Fund by 6.4% during the second quarter. SteelPeak Wealth LLC now owns 29,800 shares of the company’s stock worth $416,000 after buying an additional 1,800 shares in the last quarter. River Street Advisors LLC bought a new stake in RiverNorth Flexible Municipal Income Fund during the second quarter worth $263,000. Capital Investment Advisors LLC grew its holdings in RiverNorth Flexible Municipal Income Fund by 6.8% during the second quarter. Capital Investment Advisors LLC now owns 15,750 shares of the company’s stock worth $220,000 after buying an additional 1,000 shares in the last quarter. NewEdge Advisors LLC grew its holdings in RiverNorth Flexible Municipal Income Fund by 322.8% during the second quarter. NewEdge Advisors LLC now owns 23,005 shares of the company’s stock worth $321,000 after buying an additional 17,564 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in RiverNorth Flexible Municipal Income Fund by 14.7% during the second quarter. Raymond James Financial Inc. now owns 16,915 shares of the company’s stock worth $236,000 after buying an additional 2,165 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.