Insider Buying: RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Insider Buys 1,243 Shares of Stock

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) insider Financial Holdings Rivernorth acquired 1,243 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was bought at an average price of $14.42 per share, with a total value of $17,924.06. Following the completion of the acquisition, the insider directly owned 28,521 shares of the company’s stock, valued at $411,272.82. This trade represents a 4.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, November 10th, Financial Holdings Rivernorth purchased 4,346 shares of RiverNorth Flexible Municipal Income Fund stock. The stock was bought at an average cost of $14.31 per share, with a total value of $62,191.26.
• On Friday, November 7th, Financial Holdings Rivernorth acquired 4,257 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were bought at an average price of $14.32 per share, with a total value of $60,960.24.
• On Wednesday, November 5th, Financial Holdings Rivernorth bought 2,165 shares of RiverNorth Flexible Municipal Income Fund stock. The stock was bought at an average price of $14.45 per share, for a total transaction of $31,284.25.
• On Tuesday, November 4th, Financial Holdings Rivernorth purchased 4,257 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were purchased 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 stock was purchased at an average cost of $14.28 per share, for a total transaction 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 bought 881 shares of RiverNorth Flexible Municipal Income Fund stock. The stock was purchased at an average price of $14.31 per share, for a total transaction of $12,607.11.
• On Friday, October 24th, Financial Holdings Rivernorth purchased 141 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were purchased at an average cost 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 stock was acquired at an average cost of $14.30 per share, with a total value of $45,988.80.
• On Wednesday, October 22nd, Financial Holdings Rivernorth bought 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.

RiverNorth Flexible Municipal Income Fund Trading Up 0.7%

NYSEARCA RFM traded up $0.11 during trading hours on Wednesday, hitting $14.49. 11,720 shares of the company’s stock were exchanged, compared to its average volume of 24,105. The stock has a 50-day simple moving average of $14.33 and a 200 day simple moving average of $14.13. RiverNorth Flexible Municipal Income Fund, Inc. has a 1-year low of $13.14 and a 1-year high of $16.15.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

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

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

A number of hedge funds have recently added to or reduced their stakes in RFM. Capital Investment Advisors LLC increased its holdings in shares of 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 valued at $220,000 after acquiring an additional 1,000 shares in the last quarter. Raymond James Financial Inc. increased its stake in RiverNorth Flexible Municipal Income Fund by 14.7% during the 2nd quarter. Raymond James Financial Inc. now owns 16,915 shares of the company’s stock valued at $236,000 after purchasing an additional 2,165 shares in the last quarter. River Street Advisors LLC acquired a new position in RiverNorth Flexible Municipal Income Fund during the second quarter worth $263,000. NewEdge Advisors LLC grew its holdings in shares of 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 valued at $321,000 after buying an additional 17,564 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in shares of RiverNorth Flexible Municipal Income Fund by 6.4% in the 2nd quarter. SteelPeak Wealth LLC now owns 29,800 shares of the company’s stock worth $416,000 after acquiring an additional 1,800 shares during the last quarter.

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.