RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) President Purchases $12,447.00 in Stock

Posted by Bonnie Powley on Apr 12th, 2025

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM – Get Free Report) President Patrick W. Galley bought 900 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average price of $13.83 per share, for a total transaction of $12,447.00. Following the completion of the acquisition, the president now owns 7,600 shares of the company’s stock, valued at $105,108. The trade was a 13.43 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

RiverNorth Flexible Municipal Income Fund Price Performance

Shares of RFM opened at $13.62 on Friday. The firm has a 50-day moving average of $15.06 and a 200-day moving average of $15.45. RiverNorth Flexible Municipal Income Fund, Inc. has a one year low of $13.14 and a one year high of $16.54.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.094 per share. This represents a $1.13 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date is Friday, June 13th.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Noble Wealth Management PBC bought a new position in shares of RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at about $103,000. Raymond James Financial Inc. acquired a new position in RiverNorth Flexible Municipal Income Fund in the 4th quarter valued at about $186,000. Apollon Wealth Management LLC bought a new position in RiverNorth Flexible Municipal Income Fund in the 4th quarter valued at about $208,000. Virtu Financial LLC acquired a new stake in RiverNorth Flexible Municipal Income Fund during the fourth quarter worth approximately $385,000. Finally, SteelPeak Wealth LLC boosted its holdings in shares of RiverNorth Flexible Municipal Income Fund by 36.4% during the fourth quarter. SteelPeak Wealth LLC now owns 26,250 shares of the company’s stock worth $390,000 after acquiring an additional 7,000 shares during the period.

About RiverNorth Flexible Municipal Income Fund

(Get Free Report)

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.