Form 4: RiverNorth Affiliate Boosts Stake in Municipal Income Fund

RiverNorth Financial Holdings, LLC, an affiliate of the adviser, purchased 200 shares of RiverNorth Flexible Municipal Income Fund, Inc. common stock.

Summary

• RiverNorth Financial Holdings, LLC, an affiliate of the adviser and a 10% owner of RiverNorth Flexible Municipal Income Fund, Inc. (RFM), acquired additional shares.
• The reporting person purchased 200 shares of RFM common stock on October 30, 2025.
• Each share was acquired at a price of $14.28.
• Following this transaction, RiverNorth Financial Holdings, LLC beneficially owns a total of 12,253 shares of RFM common stock.

Sentiment

Score: 7

Explanation: The purchase of shares by an affiliate and 10% owner signals confidence in the company's future prospects, although the transaction size is relatively small.

Positives

• An affiliate of the adviser and a 10% owner increased its stake in the company, signaling confidence in its future performance.

Related Party Transactions

• RiverNorth Financial Holdings, LLC, an affiliate of the issuer's adviser and a 10% owner, purchased shares of the issuer's common stock.

Stakeholder Impact

• Shareholders may view the insider purchase as a positive indicator of management's and significant owners' belief in the company's value and future performance.

Key Dates

Recommendation

The purchase of shares by RiverNorth Financial Holdings, LLC, an affiliate of the adviser and a 10% owner, is a bullish signal. While the transaction volume of 200 shares is modest, a significant insider increasing their stake typically indicates confidence in the company's valuation and future outlook, suggesting potential upside for investors.

Keywords

RiverNorth Flexible Municipal Income Fund, RFM, insider trading, Form 4, stock purchase, beneficial ownership, municipal income fund