RiverNorth Flexible Municipal Income Fund
15 hedge funds and large institutions have $8.32M invested in RiverNorth Flexible Municipal Income Fund in 2022 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 6 increasing their positions, 5 reducing their positions, and 3 closing their positions.
20% more repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 5
1.52% less ownership
Funds ownership: 10.25% → 8.74% (-1.5%)
6% less funds holding
Funds holding: 16 → 15 (-1)
21% less capital invested
Capital invested by funds: $10.5M → $8.32M (-$2.17M)
33% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RP
Riverbridge Partners
Minneapolis,
Minnesota
|
+$486K |
| 2 |
XF
XML Financial
Bethesda,
Maryland
|
+$279K |
| 3 |
Morgan Stanley
New York
|
+$251K |
| 4 |
Wells Fargo
San Francisco,
California
|
+$132K |
| 5 |
LPL Financial
San Diego,
California
|
+$124K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$1.88M |
| 2 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
-$420K |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$310K |
| 4 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$234K |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$66.8K |
RFM Hedge Fund Activity: Q3 2022 in Review
15 of the 5,806 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q3 2022, worth a combined $8.32M — down 21% from $10.5M a quarter earlier.
Sellers outnumbered buyers: 3 funds closed out of RFM and 2 opened new positions — a net loss of 1 holder — while 5 trimmed existing stakes and 6 added.
The largest buyer was Riverbridge Partners, opening a new position worth an estimated $486K. The largest seller was Karpus Investment Management, exiting entirely with an estimated $1.88M sold.
- 15 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q3 2022, down from 16 in Q2 2022.
- Funds reported $8.32M of RiverNorth Flexible Municipal Income Fund stock for Q3 2022, down 21% quarter-over-quarter.
- 2 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q3 2022 and 3 closed out, a net change of -1 holder.
- The largest RiverNorth Flexible Municipal Income Fund buyer in Q3 2022 was Riverbridge Partners, an estimated $486K added.
- The largest RiverNorth Flexible Municipal Income Fund seller in Q3 2022 was Karpus Investment Management, an estimated $1.88M sold.
Based on aggregated 13F filings for Q3 2022.