RiverNorth Flexible Municipal Income Fund II
RFMZ
53 hedge funds and large institutions have $81M invested in RiverNorth Flexible Municipal Income Fund II in 2025 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 20 increasing their positions, 14 reducing their positions, and 2 closing their positions.
350% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 2
43% more repeat investments, than reductions
Existing positions increased: 20 | Existing positions reduced: 14
13% more funds holding
Funds holding: 47 → 53 (+6)
1.68% more ownership
Funds ownership: 24.63% → 26.31% (+1.7%)
1% more capital invested
Capital invested by funds: $80.5M → $81M (+$486K)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$2.06M |
| 2 |
Pathstone Holdings
Englewood,
New Jersey
|
+$1.49M |
| 3 |
AW
Atlas Wealth
Cincinnati,
Ohio
|
+$1.24M |
| 4 |
MC
Matisse Capital
Portland,
Oregon
|
+$625K |
| 5 |
IA
IFC Advisors
Los Angeles,
California
|
+$565K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Stifel Financial
St. Louis,
Missouri
|
-$1.34M |
| 2 |
Envestnet Asset Management
Chicago,
Illinois
|
-$464K |
| 3 |
Wells Fargo
San Francisco,
California
|
-$441K |
| 4 |
WS
Wedbush Securities
Los Angeles,
California
|
-$310K |
| 5 |
CL
Choreo LLC
Rockford,
Illinois
|
-$294K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
BBPWM
51
Blue Bell Private Wealth Management
Blue Bell,
Pennsylvania
| $11.1K | -$2.81K | -221 | -20% |
|
52
Bank of America
Charlotte,
North Carolina
| $10.5K | +$10.6K | +832 | New |
|
53
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| $9.48K | +$9.53K | +750 | New |
|
54
Janney Montgomery Scott
Philadelphia,
Pennsylvania
| – | -$156K | -11,609 | Closed |
|
|
MFG
55
Mosaic Financial Group
Chicago,
Illinois
| – | -$134K | -10,000 | Closed |
|
RFMZ Hedge Fund Activity: Q2 2025 in Review
53 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q2 2025, worth a combined $81M — up 0.6% from $80.5M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new RFMZ positions and 2 closed out — a net gain of 7 holders — while 20 added to existing stakes and 14 trimmed.
The largest buyer was Robinson Capital Management, adding an estimated $2.06M. The largest seller was Stifel Financial, cutting an estimated $1.34M.
- 53 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q2 2025, up from 47 in Q1 2025.
- Funds reported $81M of RiverNorth Flexible Municipal Income Fund II stock for Q2 2025, up 0.6% quarter-over-quarter.
- 9 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q2 2025 and 2 closed out, a net change of +7 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q2 2025 was Robinson Capital Management, an estimated $2.06M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q2 2025 was Stifel Financial, an estimated $1.34M sold.
Based on aggregated 13F filings for Q2 2025.