RiverNorth Flexible Municipal Income Fund
19 hedge funds and large institutions have $11M invested in RiverNorth Flexible Municipal Income Fund in 2023 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 4 increasing their positions, 6 reducing their positions, and 2 closing their positions.
150% more first-time investments, than exits
New positions opened: 5 | Existing positions closed: 2
19% more funds holding
Funds holding: 16 → 19 (+3)
6% more capital invested
Capital invested by funds: $10.4M → $11M (+$650K)
0.21% less ownership
Funds ownership: 11.87% → 11.66% (-0.21%)
33% less repeat investments, than reductions
Existing positions increased: 4 | Existing positions reduced: 6
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$365K |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
+$251K |
| 3 |
P
&Partners
Nashville,
Tennessee
|
+$239K |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
+$210K |
| 5 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
+$208K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MC
Moors & Cabot
Boston,
Massachusetts
|
-$586K |
| 2 |
LPL Financial
San Diego,
California
|
-$312K |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$235K |
| 4 |
BRWA
B. Riley Wealth Advisors
Boca Raton,
Florida
|
-$180K |
| 5 |
Wells Fargo
San Francisco,
California
|
-$76.1K |
RFM Hedge Fund Activity: Q4 2023 in Review
19 of the 6,860 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q4 2023, worth a combined $11M — up 6.3% from $10.4M a quarter earlier.
Buyers outnumbered sellers: 5 funds opened new RFM positions and 2 closed out — a net gain of 3 holders — while 4 added to existing stakes and 6 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $365K. The largest seller was Moors & Cabot, exiting entirely with an estimated $586K sold.
- 19 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q4 2023, up from 16 in Q3 2023.
- Funds reported $11M of RiverNorth Flexible Municipal Income Fund stock for Q4 2023, up 6.3% quarter-over-quarter.
- 5 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q4 2023 and 2 closed out, a net change of +3 holders.
- The largest RiverNorth Flexible Municipal Income Fund buyer in Q4 2023 was Morgan Stanley, an estimated $365K added.
- The largest RiverNorth Flexible Municipal Income Fund seller in Q4 2023 was Moors & Cabot, an estimated $586K sold.
Based on aggregated 13F filings for Q4 2023.