RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Shares Set to Pay Monthly Dividend of $0.09

RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) declared a monthly dividend on Thursday, October 1st. Shareholders of record on Monday, November 16th will be given a dividend of $0.0881 per share on Monday, November 30th. This represents a $1.06 annualized dividend and a yield of 8.1%. The ex-dividend date is Monday, November 16th.

RiverNorth Flexible Municipal Income Fund has decreased its dividend by an average of 3.0%per year over the last three years.

RiverNorth Flexible Municipal Income Fund Trading Up 0.6%

RFM stock opened at $13.05 on Friday. The company has a 50 day moving average of $14.15 and a two-hundred day moving average of $14.36. RiverNorth Flexible Municipal Income Fund has a 12-month low of $12.52 and a 12-month high of $15.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rivernorth Capital Management LLC lifted its holdings in shares of RiverNorth Flexible Municipal Income Fund by 318.5% during the 1st quarter. Rivernorth Capital Management LLC now owns 47,654 shares of the company’s stock valued at $669,000 after buying an additional 36,267 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in RiverNorth Flexible Municipal Income Fund in the fourth quarter worth approximately $219,000. Compass Financial Management LLC bought a new position in RiverNorth Flexible Municipal Income Fund during the second quarter valued at approximately $82,000. Concurrent Investment Advisors LLC raised its position in RiverNorth Flexible Municipal Income Fund by 44.5% during the second quarter. Concurrent Investment Advisors LLC now owns 64,275 shares of the company’s stock valued at $876,000 after acquiring an additional 19,800 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $197,000.

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.