RiverNorth Flexible Municipal Income Fund
20 hedge funds and large institutions have $12M invested in RiverNorth Flexible Municipal Income Fund in 2025 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 6 increasing their positions, 6 reducing their positions, and 1 closing their positions.
300% more first-time investments, than exits
New positions opened: 4 | Existing positions closed: 1
18% more funds holding
Funds holding: 17 → 20 (+3)
0% more repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 6
0% less capital invested
Capital invested by funds: $12M → $12M (-$25.6K)
0.52% less ownership
Funds ownership: 14.05% → 13.53% (-0.52%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$435K |
| 2 |
NA
NewEdge Advisors
New Orleans,
Louisiana
|
+$170K |
| 3 |
Raymond James Financial
St Petersburg,
Florida
|
+$72.9K |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$51.3K |
| 5 |
HWP
Highline Wealth Partners
Sherman Oaks,
California
|
+$14K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$1M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$175K |
| 3 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$134K |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$90.3K |
| 5 |
Osaic Holdings
Scottsdale,
Arizona
|
-$26.3K |
RFM Hedge Fund Activity: Q3 2025 in Review
20 of the 7,642 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund (RFM) for Q3 2025, worth a combined $12M — down 0.21% from $12M a quarter earlier.
Buyers outnumbered sellers: 4 funds opened new RFM positions and 1 closed out — a net gain of 3 holders — while 6 added to existing stakes and 6 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $435K. The largest seller was Robinson Capital Management, cutting an estimated $1M.
- 20 institutional investors held RiverNorth Flexible Municipal Income Fund (RFM) as of Q3 2025, up from 17 in Q2 2025.
- Funds reported $12M of RiverNorth Flexible Municipal Income Fund stock for Q3 2025, down 0.21% quarter-over-quarter.
- 4 funds opened new RiverNorth Flexible Municipal Income Fund positions in Q3 2025 and 1 closed out, a net change of +3 holders.
- The largest RiverNorth Flexible Municipal Income Fund buyer in Q3 2025 was Morgan Stanley, an estimated $435K added.
- The largest RiverNorth Flexible Municipal Income Fund seller in Q3 2025 was Robinson Capital Management, an estimated $1M sold.
Based on aggregated 13F filings for Q3 2025.