RiverNorth Flexible Municipal Income Fund II
RFMZ
33 hedge funds and large institutions have $55.5M invested in RiverNorth Flexible Municipal Income Fund II in 2023 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 10 increasing their positions, 10 reducing their positions, and 5 closing their positions.
60% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 5
10% more funds holding
Funds holding: 30 → 33 (+3)
0% more repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 10
0.2% less ownership
Funds ownership: 18.71% → 18.51% (-0.2%)
15% less capital invested
Capital invested by funds: $65.5M → $55.5M (-$10M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Stifel Financial
St. Louis,
Missouri
|
+$1.09M |
| 2 |
Rockefeller Capital Management
New York
|
+$283K |
| 3 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
+$259K |
| 4 |
Comerica Bank
Dallas,
Texas
|
+$222K |
| 5 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$192K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$1.29M |
| 2 |
Morgan Stanley
New York
|
-$760K |
| 3 |
Wells Fargo
San Francisco,
California
|
-$469K |
| 4 |
CAN
Cetera Advisor Networks
El Segundo,
California
|
-$190K |
| 5 |
ACIM
Azimuth Capital Investment Management
Bloomfield Hills,
Michigan
|
-$180K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| $149K | +$166K | +12,128 | New |
|
|
XF
27
XML Financial
Bethesda,
Maryland
| $142K | – | – | – |
|
|
CCP
28
Clough Capital Partners
Boston,
Massachusetts
| $133K | +$148K | +10,800 | New |
|
|
QL
29
Quarry LP
New York
| $133K | +$148K | +10,800 | New |
|
|
WFA
30
Wellspring Financial Advisors
Cleveland,
Ohio
| $123K | – | – | – |
|
|
PTC
31
Private Trust Company
Cleveland,
Ohio
| $10.9K | – | – | – |
|
|
WAM
32
Wolverine Asset Management
Chicago,
Illinois
| $5.2K | +$5.79K | +422 | New |
|
33
Fidelity Investments
Boston,
Massachusetts
| $12 | +$14 | +1 | New |
|
|
ACIM
34
Azimuth Capital Investment Management
Bloomfield Hills,
Michigan
| – | -$180K | -12,500 | Closed |
|
|
NA
35
NewEdge Advisors
New Orleans,
Louisiana
| – | -$167K | -11,600 | Closed |
|
|
LSC
36
Logan Stone Capital
Chicago,
Illinois
| – | -$162K | -11,300 | Closed |
|
|
MHS
37
M Holdings Securities
Portland,
Oregon
| – | -$144K | -10,000 | Closed |
|
38
JP Morgan Chase
New York
| – | -$32.8K | -2,281 | Closed |
|
RFMZ Hedge Fund Activity: Q3 2023 in Review
33 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q3 2023, worth a combined $55.5M — down 15% from $65.5M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new RFMZ positions and 5 closed out — a net gain of 3 holders — while 10 added to existing stakes and 10 trimmed.
The largest buyer was Stifel Financial, adding an estimated $1.09M. The largest seller was Royal Bank of Canada, cutting an estimated $1.29M.
- 33 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q3 2023, up from 30 in Q2 2023.
- Funds reported $55.5M of RiverNorth Flexible Municipal Income Fund II stock for Q3 2023, down 15% quarter-over-quarter.
- 8 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q3 2023 and 5 closed out, a net change of +3 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q3 2023 was Stifel Financial, an estimated $1.09M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q3 2023 was Royal Bank of Canada, an estimated $1.29M sold.
Based on aggregated 13F filings for Q3 2023.