RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Trading Down 0.7%

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM – Get Rating) dropped 0.7% on Monday . The stock traded as low as $14.99 and last traded at $14.99. Approximately 7,000 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 18,277 shares. The stock had previously closed at $15.09.

RiverNorth Flexible Municipal Income Fund Trading Down 0.7 %

The company’s fifty day moving average is $15.26 and its 200-day moving average is $15.70.

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RiverNorth Flexible Municipal Income Fund Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, May 31st. Investors of record on Monday, May 15th were given a dividend of $0.0985 per share. The ex-dividend date of this dividend was Friday, May 12th.

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Large investors have recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in RiverNorth Flexible Municipal Income Fund during the 4th quarter valued at about $25,000. Spire Wealth Management grew its holdings in RiverNorth Flexible Municipal Income Fund by 41.0% in the first quarter. Spire Wealth Management now owns 8,600 shares of the company’s stock valued at $133,000 after purchasing an additional 2,500 shares during the period. Bank of America Corp DE purchased a new stake in RiverNorth Flexible Municipal Income Fund in the first quarter valued at approximately $198,000. Capital Investment Advisors LLC purchased a new stake in RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at approximately $212,000. Finally, LPL Financial LLC purchased a new stake in RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $372,000.

RiverNorth Flexible Municipal Income Fund Company Profile

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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.

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