SteelPeak Wealth LLC Purchases Shares of 19,250 RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)

SteelPeak Wealth LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) in the third quarter, Holdings Channel.com reports. The firm purchased 19,250 shares of the company’s stock, valued at approximately $313,000.

A number of other hedge funds have also added to or reduced their stakes in RFM. Fairhaven Wealth Management LLC acquired a new position in RiverNorth Flexible Municipal Income Fund during the 1st quarter valued at about $297,000. B. Riley Wealth Advisors Inc. acquired a new position in RiverNorth Flexible Municipal Income Fund during the 1st quarter valued at about $204,000. Whittier Trust Co. purchased a new position in shares of RiverNorth Flexible Municipal Income Fund in the 1st quarter worth approximately $81,000. Finally, &PARTNERS boosted its stake in shares of RiverNorth Flexible Municipal Income Fund by 17.8% in the 2nd quarter. &PARTNERS now owns 16,564 shares of the company’s stock worth $268,000 after buying an additional 2,500 shares during the last quarter.

RiverNorth Flexible Municipal Income Fund Stock Performance

Shares of NYSEARCA RFM opened at $15.82 on Friday. RiverNorth Flexible Municipal Income Fund, Inc. has a twelve month low of $13.04 and a twelve month high of $16.54. The stock’s 50 day moving average price is $16.10 and its 200-day moving average price is $16.04.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0954 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.24%.

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.