RiverNorth Flexible Municipal Income Fund II said on April 3, 2023 that its board of directors declared a regular
monthly dividend of $0.09 per share ($1.04 annualized).
Previously, the company paid $0.09 per share.
Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend.
Shareholders of record as of April 14, 2023
will receive the payment on April 28, 2023.
At the current share price of $13.47 / share,
the stock’s dividend yield is 7.71%.
Looking back five years and taking a sample every week, the average dividend yield has been
32.63%,
the lowest has been 7.51%,
and the highest has been 45.23%.
The standard deviation of yields is 8.71 (n=97).
The current dividend yield is
2.86 standard deviations
below
the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 39 funds or institutions reporting positions in RiverNorth Flexible Municipal Income Fund II.
This is an increase
of
6
owner(s) or 18.18% in the last quarter.
Average portfolio weight of all funds dedicated to RFMZ is 0.05%,
a decrease
of 50.83%.
Total shares owned by institutions increased
in the last three months by 27.82% to 3,970K shares.
What are Other Shareholders Doing?
IFP Advisors
holds 0K shares.
In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 16.15%.
The firm
increased
its portfolio allocation in RFMZ by 31.80% over the last quarter.
Mathes
holds 21K shares.
In it’s prior filing, the firm reported owning 25K shares, representing
a decrease
of 19.05%.
The firm
decreased
its portfolio allocation in RFMZ by 22.34% over the last quarter.
XML Financial
holds 18K shares.
In it’s prior filing, the firm reported owning 20K shares, representing
a decrease
of 11.11%.
The firm
decreased
its portfolio allocation in RFMZ by 16.83% over the last quarter.
Thomas J. Herzfeld Advisors
holds 1K shares.
Wedbush Securities
holds 130K shares.
In it’s prior filing, the firm reported owning 153K shares, representing
a decrease
of 17.98%.
The firm
decreased
its portfolio allocation in RFMZ by 15.26% over the last quarter.
RiverNorth Flexible Municipal Income Fund II Background Information
(This description is provided by the company.)
The RiverNorth Flexible Municipal Income Fund II, Inc. (the “Fund”) seeks to provide current income exempt from regular U.S. federal income taxes1 with a secondary objective of total return.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
