RiverNorth Flexible Municipal Income Fund
16 hedge funds and large institutions have $10.5M invested in RiverNorth Flexible Municipal Income Fund in 2022 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 5 increasing their positions, 6 reducing their positions, and 6 closing their positions.
2.5% less ownership
Funds ownership: 12.75% → 10.25% (-2.5%)
17% less repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 6
20% less funds holding
Funds holding: 20 → 16 (-4)
28% less capital invested
Capital invested by funds: $14.5M → $10.5M (-$4.01M)
67% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 6
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WS
Wedbush Securities
Los Angeles,
California
|
+$584K |
| 2 |
LPL Financial
San Diego,
California
|
+$384K |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$352K |
| 4 |
Morgan Stanley
New York
|
+$186K |
| 5 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$32.2K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$1.67M |
| 2 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
-$640K |
| 3 |
Wells Fargo
San Francisco,
California
|
-$627K |
| 4 |
XF
XML Financial
Bethesda,
Maryland
|
-$352K |
| 5 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$245K |
RFM Hedge Fund Activity: Q2 2022 in Review
16 of the 5,960 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q2 2022, worth a combined $10.5M — down 28% from $14.5M a quarter earlier.
Sellers outnumbered buyers: 6 funds closed out of RFM and 2 opened new positions — a net loss of 4 holders — while 6 trimmed existing stakes and 5 added.
The largest buyer was Wedbush Securities, adding an estimated $584K. The largest seller was Karpus Investment Management, cutting an estimated $1.67M.
- 16 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q2 2022, down from 20 in Q1 2022.
- Funds reported $10.5M of RiverNorth Flexible Municipal Income Fund stock for Q2 2022, down 28% quarter-over-quarter.
- 2 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q2 2022 and 6 closed out, a net change of -4 holders.
- The largest RiverNorth Flexible Municipal Income Fund buyer in Q2 2022 was Wedbush Securities, an estimated $584K added.
- The largest RiverNorth Flexible Municipal Income Fund seller in Q2 2022 was Karpus Investment Management, an estimated $1.67M sold.
Based on aggregated 13F filings for Q2 2022.