RiverNorth Flexible Municipal Income Fund
27 hedge funds and large institutions have $15.8M invested in RiverNorth Flexible Municipal Income Fund in 2026 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 9 increasing their positions, 6 reducing their positions, and 1 closing their positions.
300% more first-time investments, than exits
New positions opened: 4 | Existing positions closed: 1
50% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 6
13% more funds holding
Funds holding: 24 → 27 (+3)
12% more capital invested
Capital invested by funds: $14.1M → $15.8M (+$1.68M)
1.83% more ownership
Funds ownership: 16.51% → 18.33% (+1.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$1.5M |
| 2 |
PFM
Professional Financial Management
Appleton,
Wisconsin
|
+$931K |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$519K |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$254K |
| 5 |
HIC
Hamrick Investment Counsel
Seattle,
Washington
|
+$107K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$1.15M |
| 2 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$503K |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$72.2K |
| 4 |
P
&Partners
Nashville,
Tennessee
|
-$44.1K |
| 5 |
Osaic Holdings
Scottsdale,
Arizona
|
-$34K |
RFM Hedge Fund Activity: Q1 2026 in Review
27 of the 8,134 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q1 2026, worth a combined $15.8M — up 12% from $14.1M a quarter earlier.
Buyers outnumbered sellers: 4 funds opened new RFM positions and 1 closed out — a net gain of 3 holders — while 9 added to existing stakes and 6 trimmed.
The largest buyer was Guggenheim Capital, opening a new position worth an estimated $1.5M. The largest seller was Morgan Stanley, cutting an estimated $1.15M.
- 27 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q1 2026, up from 24 in Q4 2025.
- Funds reported $15.8M of RiverNorth Flexible Municipal Income Fund stock for Q1 2026, up 12% quarter-over-quarter.
- 4 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q1 2026 and 1 closed out, a net change of +3 holders.
- The largest RiverNorth Flexible Municipal Income Fund buyer in Q1 2026 was Guggenheim Capital, an estimated $1.5M added.
- The largest RiverNorth Flexible Municipal Income Fund seller in Q1 2026 was Morgan Stanley, an estimated $1.15M sold.
Based on aggregated 13F filings for Q1 2026.