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RFM

RiverNorth Flexible Municipal Income Fund
RFM

16 hedge funds and large institutions have $18M invested in RiverNorth Flexible Municipal Income Fund in 2021 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 7 increasing their positions, 3 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

133% more repeat investments, than reductions

Existing positions increased: 7 | Existing positions reduced: 3

100% more first-time investments, than exits

New positions opened: 2 | Existing positions closed: 1

16% more capital invested

Capital invested by funds: $15.5M → $18M (+$2.5M)

7% more funds holding

Funds holding: 15 → 16 (+1)

0.96% more ownership

Funds ownership: 11.47% → 12.43% (+0.96%)

Holders
16
Holders Change
+1
Holders Change %
+6.67%
% of All Funds
0.28%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
2
Increased
7
Reduced
3
Closed
1
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$972K
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$528K
3
Morgan Stanley
Morgan Stanley
New York
+$137K
4
Osaic Holdings
Osaic Holdings
Arizona
+$108K
5
ASN
Advisory Services Network
Georgia
+$58.6K

Top Sellers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
-$448K
2
WS
Wedbush Securities
California
-$58.2K
3
TJHA
Thomas J. Herzfeld Advisors
Florida
-$21.6K
4
RCM
Robinson Capital Management
Michigan
-$3K
Name Holding Trade Value Shares
Change 		Change in
Stake
KIM
1
Karpus Investment Management
New York
$5.44M – – –
Royal Bank of Canada
2
Royal Bank of Canada
Ontario, Canada
$3.5M +$528K +22,543 +18%
Northwestern Mutual Wealth Management
3
Northwestern Mutual Wealth Management
Wisconsin
$2.48M +$972K +41,475 +66%
Wells Fargo
4
Wells Fargo
California
$1.81M +$44.1K +1,881 +3%
UBS Group
5
UBS Group
Switzerland
$1.41M -$448K -19,129 -24%
PNC Financial Services Group
6
PNC Financial Services Group
Pennsylvania
$806K – – –
Morgan Stanley
7
Morgan Stanley
New York
$646K +$137K +5,861 +27%
WS
8
Wedbush Securities
California
$608K -$58.2K -2,482 -9%
TJHA
9
Thomas J. Herzfeld Advisors
Florida
$439K -$21.6K -921 -5%
CIC
10
Carnegie Investment Counsel
Ohio
$355K – – –
SWM
11
Spire Wealth Management
Virginia
$203K +$11.7K +500 +6%
Osaic Holdings
12
Osaic Holdings
Arizona
$133K +$108K +4,624 +462%
FIA
13
FNY Investment Advisers
New York
$82K +$46.9K +2,000 +133%
ASN
14
Advisory Services Network
Georgia
$59K +$58.6K +2,500 New
CFO
15
CVA Family Office
Colorado
$18K – – –
TRCT
16
Tower Research Capital (TRC)
New York
$1K +$1.48K +63 New
RCM
17
Robinson Capital Management
Michigan
– -$3K -113 Closed

RFM Hedge Fund Activity: Q2 2021 in Review

16 of the 5,746 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q2 2021, worth a combined $18M — up 16% from $15.5M a quarter earlier.

Buyers outnumbered sellers: 2 funds opened new RFM positions and 1 closed out — a net gain of 1 holder — while 7 added to existing stakes and 3 trimmed.

The largest buyer was Northwestern Mutual Wealth Management, adding an estimated $972K. The largest seller was UBS Group, cutting an estimated $448K.

  • 16 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q2 2021, up from 15 in Q1 2021.
  • Funds reported $18M of RiverNorth Flexible Municipal Income Fund stock for Q2 2021, up 16% quarter-over-quarter.
  • 2 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q2 2021 and 1 closed out, a net change of +1 holder.
  • The largest RiverNorth Flexible Municipal Income Fund buyer in Q2 2021 was Northwestern Mutual Wealth Management, an estimated $972K added.
  • The largest RiverNorth Flexible Municipal Income Fund seller in Q2 2021 was UBS Group, an estimated $448K sold.

Based on aggregated 13F filings for Q2 2021.