RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Trading Down 0.1% – Here’s What Happened

Shares of RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) traded down 0.1% during mid-day trading on Thursday . The stock traded as low as $14.92 and last traded at $14.96. 37,554 shares were traded during trading, an increase of 122% from the average session volume of 16,905 shares. The stock had previously closed at $14.98.

RiverNorth Flexible Municipal Income Fund Stock Performance

The company has a 50-day moving average of $15.75 and a 200-day moving average of $15.94.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.0954 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.65%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in RiverNorth Flexible Municipal Income Fund stock. Wolverine Asset Management LLC bought a new stake in RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 47,263 shares of the company’s stock, valued at approximately $770,000.

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.