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RFMZ

RiverNorth Flexible Municipal Income Fund II
RFMZ

54 hedge funds and large institutions have $80.4M invested in RiverNorth Flexible Municipal Income Fund II in 2024 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 15 increasing their positions, 10 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

500% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 3

50% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 10

32% more funds holding

Funds holding: 41 → 54 (+13)

10% more capital invested

Capital invested by funds: $73.3M → $80.4M (+$7.08M)

3.87% more ownership

Funds ownership: 20.75% → 24.62% (+3.9%)

Holders
54
Holders Change
+13
Holders Change %
+31.71%
% of All Funds
0.71%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
18
Increased
15
Reduced
10
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AIA
Absolute Investment Advisers
Florida
+$4.37M
2
UBS Group
UBS Group
Switzerland
+$2.71M
3
IAA
Independent Advisor Alliance
North Carolina
+$1.94M
4
QL
Quarry LP
New York
+$1.69M
5
WAM
Wolverine Asset Management
Illinois
+$1.51M

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$1.98M
2
Corient Private Wealth
Corient Private Wealth
Florida
-$941K
3
Stifel Financial
Stifel Financial
Missouri
-$857K
4
Wells Fargo
Wells Fargo
California
-$614K
5
Morgan Stanley
Morgan Stanley
New York
-$335K
Name Holding Trade Value Shares
Change 		Change in
Stake
CIA
26
Concurrent Investment Advisors
Florida
$444K +$24.8K +1,760 +6%
CIC
27
Carnegie Investment Counsel
Ohio
$402K – – –
HighTower Advisors
28
HighTower Advisors
Illinois
$389K +$409K +29,010 New
Truist Financial
29
Truist Financial
North Carolina
$339K +$356K +25,302 New
RAM
30
Readystate Asset Management
Illinois
$308K +$324K +22,987 New
PI
31
PFG Investments
New York
$285K – – –
FWM
32
Fairhaven Wealth Management
Illinois
$279K – – –
Osaic Holdings
33
Osaic Holdings
Arizona
$273K -$29.7K -2,109 -9%
HF
34
HRT Financial
New York
$268K +$282K +20,047 New
SW
35
SteelPeak Wealth
California
$248K +$56.4K +4,000 +28%
P
36
&Partners
Tennessee
$234K +$84.5K +6,000 +54%
Raymond James Financial
37
Raymond James Financial
Florida
$226K +$238K +16,899 New
LCM
38
Landscape Capital Management
New Jersey
$186K +$195K +13,855 New
Comerica Bank
39
Comerica Bank
Texas
$185K – – –
Nomura Holdings
40
Nomura Holdings
Japan
$174K +$183K +13,000 New
Susquehanna International Group
41
Susquehanna International Group
Pennsylvania
$174K +$183K +12,986 New
Janney Montgomery Scott
42
Janney Montgomery Scott
Pennsylvania
$155K -$8.29K -588 -5%
NA
43
NewEdge Advisors
Louisiana
$153K – – –
HH
44
Hilltop Holdings
Texas
$151K +$9.86K +700 +7%
Jane Street
45
Jane Street
New York
$150K +$158K +11,182 New
MFG
46
Mosaic Financial Group
Illinois
$134K – – –
WFA
47
Wellspring Financial Advisors
Ohio
$134K – – –
NWMP
48
Noble Wealth Management PBC
Colorado
$102K +$107K +7,615 New
EWA
49
EverSource Wealth Advisors
Alabama
$59K – – –
US Bancorp
50
US Bancorp
Minnesota
$53.6K – – –
1
2
3

RFMZ Hedge Fund Activity: Q4 2024 in Review

54 of the 7,592 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q4 2024, worth a combined $80.4M — up 9.7% from $73.3M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new RFMZ positions and 3 closed out — a net gain of 15 holders — while 15 added to existing stakes and 10 trimmed.

The largest buyer was Absolute Investment Advisers, opening a new position worth an estimated $4.37M. The largest seller was Karpus Investment Management, cutting an estimated $1.98M.

  • 54 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q4 2024, up from 41 in Q3 2024.
  • Funds reported $80.4M of RiverNorth Flexible Municipal Income Fund II stock for Q4 2024, up 9.7% quarter-over-quarter.
  • 18 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q4 2024 and 3 closed out, a net change of +15 holders.
  • The largest RiverNorth Flexible Municipal Income Fund II buyer in Q4 2024 was Absolute Investment Advisers, an estimated $4.37M added.
  • The largest RiverNorth Flexible Municipal Income Fund II seller in Q4 2024 was Karpus Investment Management, an estimated $1.98M sold.

Based on aggregated 13F filings for Q4 2024.