RiverNorth Flexible Municipal Income Fund II
RFMZ
28 hedge funds and large institutions have $53.4M invested in RiverNorth Flexible Municipal Income Fund II in 2023 Q1 according to their latest regulatory filings, with 1 funds opening new positions, 11 increasing their positions, 7 reducing their positions, and 9 closing their positions.
57% more repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 7
2% more capital invested
Capital invested by funds: $52.4M → $53.4M (+$1.07M)
0.24% more ownership
Funds ownership: 16.03% → 16.26% (+0.24%)
24% less funds holding
Funds holding: 37 → 28 (-9)
89% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 9
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Rockefeller Capital Management
New York
|
+$1.02M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$465K |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$372K |
| 4 |
Stifel Financial
St. Louis,
Missouri
|
+$234K |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$200K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HighTower Advisors
Chicago,
Illinois
|
-$432K |
| 2 |
MC
Moors & Cabot
Boston,
Massachusetts
|
-$417K |
| 3 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$203K |
| 4 |
VF
Virtu Financial
New York
|
-$198K |
| 5 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
-$156K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
WFA
26
Wellspring Financial Advisors
Cleveland,
Ohio
| $135K | – | – | – |
|
|
PTC
27
Private Trust Company
Cleveland,
Ohio
| $12K | – | – | – |
|
|
BAM
28
Belpointe Asset Management
Reno,
Nevada
| $4.51K | – | – | – |
|
|
29
HighTower Advisors
Chicago,
Illinois
| – | -$432K | -32,084 | Closed |
|
|
WAM
30
Weiss Asset Management
Boston,
Massachusetts
| – | -$203K | -15,029 | Closed |
|
|
VF
31
Virtu Financial
New York
| – | -$198K | -14,622 | Closed |
|
|
LCM
32
Landscape Capital Management
Englewood,
New Jersey
| – | -$156K | -11,520 | Closed |
|
|
WAM
33
Wolverine Asset Management
Chicago,
Illinois
| – | -$109K | -8,077 | Closed |
|
|
TJHA
34
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| – | -$10.1K | -750 | Closed |
|
35
Bessemer Group
Woodbridge,
New Jersey
| – | -$8K | -607 | Closed |
|
|
IA
36
IFP Advisors
Tampa,
Florida
| – | -$9K | -322 | Closed |
|
RFMZ Hedge Fund Activity: Q1 2023 in Review
28 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q1 2023, worth a combined $53.4M — up 2% from $52.4M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of RFMZ and 1 opened new positions — a net loss of 8 holders — while 7 trimmed existing stakes and 11 added.
The largest buyer was Rockefeller Capital Management, adding an estimated $1.02M. The largest seller was HighTower Advisors, exiting entirely with an estimated $432K sold.
- 28 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q1 2023, down from 37 in Q4 2022.
- Funds reported $53.4M of RiverNorth Flexible Municipal Income Fund II stock for Q1 2023, up 2% quarter-over-quarter.
- 1 fund opened new RiverNorth Flexible Municipal Income Fund II positions in Q1 2023 and 9 closed out, a net change of -8 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q1 2023 was Rockefeller Capital Management, an estimated $1.02M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q1 2023 was HighTower Advisors, an estimated $432K sold.
Based on aggregated 13F filings for Q1 2023.