Carnegie Capital Asset Management LLC Makes New $300,000 Investment in RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)

Carnegie Capital Asset Management LLC purchased a new position in RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,000 shares of the company’s stock, valued at approximately $300,000.

In related news, Portfolio Manager Robert A. Dimella purchased 9,900 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $19.00 per share, with a total value of $188,100.00.

Shares of RiverNorth Flexible Municipal Income Fund stock opened at $19.23 on Friday. The business has a 50-day simple moving average of $19.82. RiverNorth Flexible Municipal Income Fund, Inc. has a 52 week low of $16.82 and a 52 week high of $21.55.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.1042 dividend. This represents a $1.25 annualized dividend and a yield of 6.50%. The ex-dividend date is Monday, June 15th.

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