RiverNorth Flexible Municipal Income Fund
25 hedge funds and large institutions have $17.1M invested in RiverNorth Flexible Municipal Income Fund in 2026 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 14 increasing their positions, 4 reducing their positions, and 4 closing their positions.
250% more repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 4
8% more capital invested
Capital invested by funds: $15.8M → $17.1M (+$1.31M)
0.58% more ownership
Funds ownership: 18.33% → 18.92% (+0.58%)
7% less funds holding
Funds holding: 27 → 25 (-2)
50% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 4
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$1.15M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$236K |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$150K |
| 4 |
Morgan Stanley
New York
|
+$121K |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
+$63.9K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$896K |
| 2 |
CIC
Carnegie Investment Counsel
Pepper Pike,
Ohio
|
-$210K |
| 3 |
HIC
Hamrick Investment Counsel
Seattle,
Washington
|
-$105K |
| 4 |
CIA
Capital Investment Advisors
Atlanta,
Georgia
|
-$28.9K |
| 5 |
ASN
Advisory Services Network
Atlanta,
Georgia
|
-$11.7K |
RFM Hedge Fund Activity: Q2 2026 in Review
25 of the 8,336 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q2 2026, worth a combined $17.1M — up 8.3% from $15.8M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of RFM and 2 opened new positions — a net loss of 2 holders — while 4 trimmed existing stakes and 14 added.
The largest buyer was Thomas J. Herzfeld Advisors, opening a new position worth an estimated $1.15M. The largest seller was Logan Stone Capital, exiting entirely with an estimated $896K sold.
- 25 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q2 2026, down from 27 in Q1 2026.
- Funds reported $17.1M of RiverNorth Flexible Municipal Income Fund stock for Q2 2026, up 8.3% quarter-over-quarter.
- 2 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q2 2026 and 4 closed out, a net change of -2 holders.
- The largest RiverNorth Flexible Municipal Income Fund buyer in Q2 2026 was Thomas J. Herzfeld Advisors, an estimated $1.15M added.
- The largest RiverNorth Flexible Municipal Income Fund seller in Q2 2026 was Logan Stone Capital, an estimated $896K sold.
Based on aggregated 13F filings for Q2 2026.