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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Corient Private Wealth
Miami,
Florida
|
+$2.05M |
| 2 |
AIA
Absolute Investment Advisers
Rosemary Beach,
Florida
|
+$922K |
| 3 |
Wells Fargo
San Francisco,
California
|
+$691K |
| 4 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$665K |
| 5 |
AWM
Avior Wealth Management
Omaha,
Nebraska
|
+$528K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$4.7M |
| 2 |
Rockefeller Capital Management
New York
|
-$1.73M |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$1.08M |
| 4 |
CCP
Clough Capital Partners
Boston,
Massachusetts
|
-$872K |
| 5 |
BWM
BlackDiamond Wealth Management
New York
|
-$425K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ANBT
51
American National Bank & Trust
Wichita Falls,
Texas
| – | -$459 | -35 | Closed |
|
52
Fidelity Investments
Boston,
Massachusetts
| – | -$13 | -1 | Closed |
|
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.