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RFMZ

RiverNorth Flexible Municipal Income Fund II
RFMZ

42 hedge funds and large institutions have $70.5M invested in RiverNorth Flexible Municipal Income Fund II in 2024 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 15 increasing their positions, 12 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 12

1% more capital invested

Capital invested by funds: $69.9M → $70.5M (+$650K)

1.23% less ownership

Funds ownership: 21.9% → 20.66% (-1.2%)

5% less funds holding

Funds holding: 44 → 42 (-2)

20% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 10

Holders
42
Holders Change
-2
Holders Change %
-4.55%
% of All Funds
0.61%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
15
Reduced
12
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Corient Private Wealth
Corient Private Wealth
Florida
+$2.05M
2
AIA
Absolute Investment Advisers
Florida
+$922K
3
Wells Fargo
Wells Fargo
California
+$691K
4
TJHA
Thomas J. Herzfeld Advisors
Florida
+$665K
5
AWM
Avior Wealth Management
Nebraska
+$528K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$4.7M
2
Rockefeller Capital Management
Rockefeller Capital Management
New York
-$1.73M
3
WAM
Wolverine Asset Management
Illinois
-$1.08M
4
CCP
Clough Capital Partners
Massachusetts
-$872K
5
BWM
BlackDiamond Wealth Management
New York
-$425K
Name Holding Trade Value Shares
Change 		Change in
Stake
BRWA
26
B. Riley Wealth Advisors
Florida
$338K -$98.2K -7,086 -21%
FWM
27
Fairhaven Wealth Management
Illinois
$273K +$269K +19,432 New
AA
28
AQR Arbitrage
Connecticut
$242K -$271K -19,572 -53%
RJFSA
29
Raymond James Financial Services Advisors
Florida
$229K – – –
Janney Montgomery Scott
30
Janney Montgomery Scott
Pennsylvania
$225K -$96.1K -6,937 -30%
RJA
31
Raymond James & Associates
Florida
$218K +$45.7K +3,300 +27%
WT
32
Whittier Trust
California
$210K +$208K +15,000 New
MC
33
Moors & Cabot
Massachusetts
$203K -$139K -10,000 -41%
Comerica Bank
34
Comerica Bank
Texas
$202K +$33K +2,380 +20%
HKIM
35
Hayek Kallen Investment Management
Alabama
$175K – – –
Commonwealth Equity Services
36
Commonwealth Equity Services
Massachusetts
$169K +$471 +34 +0.3%
HH
37
Hilltop Holdings
Texas
$149K +$147K +10,600 New
P
38
&Partners
Tennessee
$142K – – –
WFA
39
Wellspring Financial Advisors
Ohio
$140K – – –
MFG
40
Mosaic Financial Group
Illinois
$140K +$139K +10,000 New
PTC
41
Private Trust Company
Ohio
$12.4K – – –
WAM
42
Wolverine Asset Management
Illinois
$2.81K -$1.08M -77,800 -100%
CCP
43
Clough Capital Partners
Massachusetts
– -$872K -66,574 Closed
BWM
44
BlackDiamond Wealth Management
New York
– -$425K -31,050 Closed
VF
45
Virtu Financial
New York
– -$284K -21,659 Closed
EC
46
Elequin Capital
New York
– -$277K -21,149 Closed
WAM
47
Weiss Asset Management
Massachusetts
– -$269K -20,547 Closed
MC
48
Matisse Capital
Oregon
– -$250K -19,070 Closed
ACM
49
Arlington Capital Management
Illinois
– -$196K -14,986 Closed
MG
50
Marex Group
– -$162K -12,400 Closed
1
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3

RFMZ Hedge Fund Activity: Q1 2024 in Review

42 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q1 2024, worth a combined $70.5M — up 0.93% from $69.9M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of RFMZ and 8 opened new positions — a net loss of 2 holders — while 12 trimmed existing stakes and 15 added.

The largest buyer was Corient Private Wealth, opening a new position worth an estimated $2.05M. The largest seller was Morgan Stanley, cutting an estimated $4.7M.

  • 42 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q1 2024, down from 44 in Q4 2023.
  • Funds reported $70.5M of RiverNorth Flexible Municipal Income Fund II stock for Q1 2024, up 0.93% quarter-over-quarter.
  • 8 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q1 2024 and 10 closed out, a net change of -2 holders.
  • The largest RiverNorth Flexible Municipal Income Fund II buyer in Q1 2024 was Corient Private Wealth, an estimated $2.05M added.
  • The largest RiverNorth Flexible Municipal Income Fund II seller in Q1 2024 was Morgan Stanley, an estimated $4.7M sold.

Based on aggregated 13F filings for Q1 2024.