RiverNorth Flexible Municipal Income Fund II
RFMZ
30 hedge funds and large institutions have $65.5M invested in RiverNorth Flexible Municipal Income Fund II in 2023 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 9 increasing their positions, 9 reducing their positions, and 3 closing their positions.
67% more first-time investments, than exits
New positions opened: 5 | Existing positions closed: 3
23% more capital invested
Capital invested by funds: $53.4M → $65.5M (+$12M)
7% more funds holding
Funds holding: 28 → 30 (+2)
2.45% more ownership
Funds ownership: 16.26% → 18.71% (+2.4%)
0% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 9
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$4.28M |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
+$4.07M |
| 3 |
BWM
BlackDiamond Wealth Management
New York
|
+$611K |
| 4 |
Rockefeller Capital Management
New York
|
+$429K |
| 5 |
Wells Fargo
San Francisco,
California
|
+$237K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$608K |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$600K |
| 3 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$484K |
| 4 |
CA
Corrado Advisors
Ramsey,
New Jersey
|
-$443K |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$211K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
LSC
26
Logan Stone Capital
Chicago,
Illinois
| $162K | – | – | – |
|
|
MHS
27
M Holdings Securities
Portland,
Oregon
| $144K | – | – | – |
|
|
WFA
28
Wellspring Financial Advisors
Cleveland,
Ohio
| $144K | – | – | – |
|
29
JP Morgan Chase
New York
| $32.8K | +$30.9K | +2,281 | New |
|
|
PTC
30
Private Trust Company
Cleveland,
Ohio
| $12.7K | – | – | – |
|
|
RCM
31
Robinson Capital Management
Grosse Pointe Farms,
Michigan
| – | -$484K | -36,067 | Closed |
|
|
CA
32
Corrado Advisors
Ramsey,
New Jersey
| – | -$443K | -32,844 | Closed |
|
|
BAM
33
Belpointe Asset Management
Reno,
Nevada
| – | -$4.51K | -334 | Closed |
|
RFMZ Hedge Fund Activity: Q2 2023 in Review
30 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q2 2023, worth a combined $65.5M — up 23% from $53.4M a quarter earlier.
Buyers outnumbered sellers: 5 funds opened new RFMZ positions and 3 closed out — a net gain of 2 holders — while 9 added to existing stakes and 9 trimmed.
The largest buyer was UBS Group, adding an estimated $4.28M. The largest seller was Morgan Stanley, cutting an estimated $608K.
- 30 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q2 2023, up from 28 in Q1 2023.
- Funds reported $65.5M of RiverNorth Flexible Municipal Income Fund II stock for Q2 2023, up 23% quarter-over-quarter.
- 5 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q2 2023 and 3 closed out, a net change of +2 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q2 2023 was UBS Group, an estimated $4.28M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q2 2023 was Morgan Stanley, an estimated $608K sold.
Based on aggregated 13F filings for Q2 2023.