RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Shares Down 0.8% – Time to Sell?

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) shares fell 0.8% during trading on Friday . The company traded as low as $15.75 and last traded at $15.76. 27,659 shares were traded during mid-day trading, an increase of 78% from the average session volume of 15,504 shares. The stock had previously closed at $15.88.

RiverNorth Flexible Municipal Income Fund Stock Performance

The stock has a 50-day simple moving average of $16.12 and a two-hundred day simple moving average of $16.06.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0954 per share. The ex-dividend date is Friday, December 13th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.26%.

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

A number of institutional investors have recently made changes to their positions in RFM. Fairhaven Wealth Management LLC bought a new stake in shares of RiverNorth Flexible Municipal Income Fund in the 1st quarter valued at about $297,000. Whittier Trust Co. purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund during the first quarter valued at approximately $81,000. B. Riley Wealth Advisors Inc. bought a new position in shares of RiverNorth Flexible Municipal Income Fund in the first quarter worth approximately $204,000. &PARTNERS increased its stake in shares of RiverNorth Flexible Municipal Income Fund by 17.8% in the second quarter. &PARTNERS now owns 16,564 shares of the company’s stock worth $268,000 after buying an additional 2,500 shares during the period. Finally, SteelPeak Wealth LLC bought a new stake in RiverNorth Flexible Municipal Income Fund during the 3rd quarter valued at $313,000.

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.