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RFM

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.

New
Increased
Maintained
Reduced
Closed

150% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 2

19% more funds holding

Funds holding: 1619 (+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

Holders
19
Holders Change
+3
Holders Change %
+18.75%
% of All Funds
0.28%
Holding in Top 10
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
5
Increased
4
Reduced
6
Closed
2
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
Wells Fargo
1
Wells Fargo
California
$2.26M -$76.1K -5,284 -3%
UBS Group
2
UBS Group
Switzerland
$1.7M -$235K -16,336 -13%
Morgan Stanley
3
Morgan Stanley
New York
$1.45M +$365K +25,317 +37%
Royal Bank of Canada
4
Royal Bank of Canada
Ontario, Canada
$1.36M -$7.23K -502 -0.6%
WS
5
Wedbush Securities
California
$959K -$5.2K -361 -0.6%
LPL Financial
6
LPL Financial
California
$765K -$312K -21,648 -30%
RP
7
Riverbridge Partners
Minnesota
$528K +$6.05K +420 +1%
RJA
8
Raymond James & Associates
Florida
$369K +$518 +36 +0.2%
Osaic Holdings
9
Osaic Holdings
Arizona
$308K +$210K +14,590 +274%
Stifel Financial
10
Stifel Financial
Missouri
$269K +$251K +17,396 New
CIA
11
Capital Investment Advisors
Georgia
$259K
P
12
&Partners
Tennessee
$258K +$239K +16,564 New
CIC
13
Carnegie Investment Counsel
Ohio
$232K
LSC
14
Logan Stone Capital
Illinois
$224K +$208K +14,448 New
SWM
15
Spire Wealth Management
Virginia
$53.1K -$73.5K -5,100 -59%
Northwestern Mutual Wealth Management
16
Northwestern Mutual Wealth Management
Wisconsin
$18.3K
ASN
17
Advisory Services Network
Georgia
$12.9K +$12K +833 New
SIS
18
Sound Income Strategies
Florida
$9.28K
JP Morgan Chase
19
JP Morgan Chase
New York
$2.82K +$2.62K +182 New
MC
20
Moors & Cabot
Massachusetts
-$586K -41,000 Closed
BRWA
21
B. Riley Wealth Advisors
Florida
-$180K -12,571 Closed

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.