RiverNorth Flexible Municipal Income Fund II
RFMZ
37 hedge funds and large institutions have $52.4M invested in RiverNorth Flexible Municipal Income Fund II in 2022 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 14 increasing their positions, 9 reducing their positions, and 3 closing their positions.
267% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 3
56% more repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 9
34% more capital invested
Capital invested by funds: $39M → $52.4M (+$13.4M)
23% more funds holding
Funds holding: 30 → 37 (+7)
3.93% more ownership
Funds ownership: 12.09% → 16.03% (+3.9%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$8.8M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$1.74M |
| 3 |
Rockefeller Capital Management
New York
|
+$1.44M |
| 4 |
Morgan Stanley
New York
|
+$887K |
| 5 |
RP
Riverbridge Partners
Minneapolis,
Minnesota
|
+$844K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HKIM
Hayek Kallen Investment Management
Fairhope,
Alabama
|
-$887K |
| 2 |
Wells Fargo
San Francisco,
California
|
-$771K |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$735K |
| 4 |
Stifel Financial
St. Louis,
Missouri
|
-$331K |
| 5 |
WS
Wedbush Securities
Los Angeles,
California
|
-$313K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
LCM
26
Landscape Capital Management
Englewood,
New Jersey
| $156K | +$155K | +11,520 | New |
|
|
LSC
27
Logan Stone Capital
Chicago,
Illinois
| $153K | +$152K | +11,300 | New |
|
|
WFA
28
Wellspring Financial Advisors
Cleveland,
Ohio
| $135K | +$134K | +10,000 | New |
|
|
MHS
29
M Holdings Securities
Portland,
Oregon
| $135K | – | – | – |
|
|
WAM
30
Wolverine Asset Management
Chicago,
Illinois
| $109K | +$82.3K | +6,133 | +315% |
|
|
PTC
31
Private Trust Company
Cleveland,
Ohio
| $12K | +$11.9K | +886 | New |
|
|
TJHA
32
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| $10.1K | +$10.1K | +750 | New |
|
|
IA
33
IFP Advisors
Tampa,
Florida
| $9K | +$698 | +52 | +19% |
|
34
Bessemer Group
Woodbridge,
New Jersey
| $8K | +$698 | +52 | +9% |
|
|
BAM
35
Belpointe Asset Management
Reno,
Nevada
| $4.52K | +$4.48K | +334 | New |
|
|
PAG
36
Private Advisor Group
Morristown,
New Jersey
| $431 | +$205K | +15,250 | +92% |
|
37
Millennium Management
New York
| – | -$285K | -21,519 | Closed |
|
|
M
38
MOTCO
San Antonio,
Texas
| – | -$53K | -4,000 | Closed |
|
|
MA
39
MUFG Americas
New York
| – | -$33K | -2,500 | Closed |
|
RFMZ Hedge Fund Activity: Q4 2022 in Review
37 of the 6,221 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q4 2022, worth a combined $52.4M — up 34% from $39M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new RFMZ positions and 3 closed out — a net gain of 8 holders — while 14 added to existing stakes and 9 trimmed.
The largest buyer was Karpus Investment Management, opening a new position worth an estimated $8.8M. The largest seller was Hayek Kallen Investment Management, cutting an estimated $887K.
- 37 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q4 2022, up from 30 in Q3 2022.
- Funds reported $52.4M of RiverNorth Flexible Municipal Income Fund II stock for Q4 2022, up 34% quarter-over-quarter.
- 11 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q4 2022 and 3 closed out, a net change of +8 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q4 2022 was Karpus Investment Management, an estimated $8.8M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q4 2022 was Hayek Kallen Investment Management, an estimated $887K sold.
Based on aggregated 13F filings for Q4 2022.