RiverNorth Flexible Municipal Income Fund
7 hedge funds and large institutions have $5.72M invested in RiverNorth Flexible Municipal Income Fund in 2020 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 2 increasing their positions, 1 reducing their positions, and 2 closing their positions.
100% more repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 1
50% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 2
46% more capital invested
Capital invested by funds: $3.92M → $5.72M (+$1.8M)
17% more funds holding
Funds holding: 6 → 7 (+1)
1.48% more ownership
Funds ownership: 3.63% → 5.12% (+1.5%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$1.44M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$566K |
| 3 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
+$441K |
| 4 |
Morgan Stanley
New York
|
+$262K |
| 5 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$97.6K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$839K |
| 2 |
WS
Wedbush Securities
Los Angeles,
California
|
-$249K |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$58K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
1
Royal Bank of Canada
Toronto,
Ontario, Canada
| $1.91M | +$1.44M | +71,200 | +311% |
|
|
2
UBS Group
Zurich,
Switzerland
| $1.38M | -$839K | -41,513 | -38% |
|
|
3
Wells Fargo
San Francisco,
California
| $1.32M | +$566K | +28,001 | +76% |
|
|
4
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| $444K | +$441K | +21,846 | New |
|
|
CIC
5
Carnegie Investment Counsel
Pepper Pike,
Ohio
| $305K | – | – | – |
|
|
6
Morgan Stanley
New York
| $264K | +$262K | +12,963 | New |
|
|
TJHA
7
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| $97K | +$97.6K | +4,828 | New |
|
|
WS
8
Wedbush Securities
Los Angeles,
California
| – | -$249K | -12,715 | Closed |
|
|
WAM
9
Wolverine Asset Management
Chicago,
Illinois
| – | -$58K | -2,988 | Closed |
|
RFM Hedge Fund Activity: Q3 2020 in Review
7 of the 4,957 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q3 2020, worth a combined $5.72M — up 46% from $3.92M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new RFM positions and 2 closed out — a net gain of 1 holder — while 2 added to existing stakes and 1 trimmed.
The largest buyer was Royal Bank of Canada, adding an estimated $1.44M. The largest seller was UBS Group, cutting an estimated $839K.
- 7 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q3 2020, up from 6 in Q2 2020.
- Funds reported $5.72M of RiverNorth Flexible Municipal Income Fund stock for Q3 2020, up 46% quarter-over-quarter.
- 3 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q3 2020 and 2 closed out, a net change of +1 holder.
- The largest RiverNorth Flexible Municipal Income Fund buyer in Q3 2020 was Royal Bank of Canada, an estimated $1.44M added.
- The largest RiverNorth Flexible Municipal Income Fund seller in Q3 2020 was UBS Group, an estimated $839K sold.
Based on aggregated 13F filings for Q3 2020.