RiverNorth Flexible Municipal Income Fund said on April 3, 2023 that its board of directors declared a regular
monthly dividend of $0.10 per share ($1.18 annualized).
Previously, the company paid $0.10 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 $15.75 / share,
the stock’s dividend yield is 7.50%.
Looking back five years and taking a sample every week, the average dividend yield has been
29.02%,
the lowest has been 7.45%,
and the highest has been 40.48%.
The standard deviation of yields is 6.16 (n=141).
The current dividend yield is
3.49 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 18 funds or institutions reporting positions in RiverNorth Flexible Municipal Income Fund.
This is an increase
of
1
owner(s) or 5.88% in the last quarter.
Average portfolio weight of all funds dedicated to RFM is 0.04%,
an increase
of 53.16%.
Total shares owned by institutions increased
in the last three months by 27.95% to 716K shares.
What are Other Shareholders Doing?
LPL Financial
holds 88K shares.
In it’s prior filing, the firm reported owning 30K shares, representing
an increase
of 66.28%.
The firm
increased
its portfolio allocation in RFM by 165.40% over the last quarter.
Royal Bank Of Canada
holds 101K shares.
In it’s prior filing, the firm reported owning 100K shares, representing
an increase
of 1.16%.
The firm
decreased
its portfolio allocation in RFM by 7.08% over the last quarter.
ROBAX – Robinson Tax Advantaged Income Fund Shares
holds 11K shares.
In it’s prior filing, the firm reported owning 25K shares, representing
a decrease
of 121.14%.
The firm
decreased
its portfolio allocation in RFM by 52.89% over the last quarter.
Spire Wealth Management
holds 6K shares.
In it’s prior filing, the firm reported owning 7K shares, representing
a decrease
of 11.48%.
The firm
decreased
its portfolio allocation in RFM by 40.76% over the last quarter.
Wells Fargo
holds 87K shares.
In it’s prior filing, the firm reported owning 97K shares, representing
a decrease
of 11.46%.
The firm
decreased
its portfolio allocation in RFM by 16.68% over the last quarter.
RiverNorth Flexible Municipal Income Fund Background Information
(This description is provided by the company.)
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.
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.
