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RFMZ

RiverNorth Flexible Municipal Income Fund II
RFMZ

27 hedge funds and large institutions have $34.9M invested in RiverNorth Flexible Municipal Income Fund II in 2022 Q2 according to their latest regulatory filings, with 7 funds opening new positions, 10 increasing their positions, 6 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

67% more repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 6

40% more first-time investments, than exits

New positions opened: 7 | Existing positions closed: 5

19% more capital invested

Capital invested by funds: $29.4M → $34.9M (+$5.51M)

4% more funds holding

Funds holding: 26 → 27 (+1)

2.54% more ownership

Funds ownership: 8.4% → 10.94% (+2.5%)

Holders
27
Holders Change
+1
Holders Change %
+3.85%
% of All Funds
0.45%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
7
Increased
10
Reduced
6
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Stifel Financial
Stifel Financial
Missouri
+$3.04M
2
Wells Fargo
Wells Fargo
California
+$2.47M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$1.76M
4
Rockefeller Capital Management
Rockefeller Capital Management
New York
+$1.07M
5
Morgan Stanley
Morgan Stanley
New York
+$788K

Top Sellers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
-$697K
2
H6H
Hightower 6M Holding
Kansas
-$546K
3
XF
XML Financial
Maryland
-$422K
4
VanEck Associates
VanEck Associates
New York
-$373K
5
VF
Virtu Financial
New York
-$354K
Name Holding Trade Value Shares
Change 		Change in
Stake
Rockefeller Capital Management
1
Rockefeller Capital Management
New York
$6.03M +$1.07M +70,793 +21%
UBS Group
2
UBS Group
Switzerland
$5.43M -$24.2K -1,607 -0.4%
Wells Fargo
3
Wells Fargo
California
$4.4M +$2.47M +163,813 +118%
Stifel Financial
4
Stifel Financial
Missouri
$4.15M +$3.04M +202,131 +242%
Royal Bank of Canada
5
Royal Bank of Canada
Ontario, Canada
$2.38M +$1.76M +116,758 +251%
WS
6
Wedbush Securities
California
$1.93M +$706K +46,883 +55%
VanEck Associates
7
VanEck Associates
New York
$1.59M -$373K -24,783 -18%
HKIM
8
Hayek Kallen Investment Management
Alabama
$1.38M -$48.9K -3,250 -3%
CAN
9
Cetera Advisor Networks
California
$1.33M +$179K +11,899 +15%
Morgan Stanley
10
Morgan Stanley
New York
$1.17M +$788K +52,349 +188%
RCM
11
Robinson Capital Management
Michigan
$1.14M +$90.6K +6,013 +8%
Osaic Holdings
12
Osaic Holdings
Arizona
$952K +$12.2K +813 +1%
CA
13
Corrado Advisors
New Jersey
$705K -$44.9K -2,982 -6%
CIC
14
Carnegie Investment Counsel
Ohio
$436K – – –
MC
15
Mathes Company
New York
$364K – – –
RJFSA
16
Raymond James Financial Services Advisors
Florida
$309K +$320K +21,280 New
WAM
17
Wolverine Asset Management
Illinois
$270K +$256K +16,984 +1,054%
CCP
18
Clough Capital Partners
Massachusetts
$190K -$145K -9,600 -42%
PAG
19
Private Advisor Group
New Jersey
$186K +$193K +12,800 New
ACA
20
Ackerman Capital Advisors
Texas
$169K +$175K +11,591 New
MC
21
Moors & Cabot
Massachusetts
$153K +$158K +10,500 New
MHS
22
M Holdings Securities
Oregon
$145K – – –
BRWM
23
B. Riley Wealth Management
Tennessee
$105K +$230K +15,249 New
Citigroup
24
Citigroup
New York
$6K +$6.02K +400 New
IA
25
IFP Advisors
Florida
$5K – – –
1
2

RFMZ Hedge Fund Activity: Q2 2022 in Review

27 of the 5,936 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q2 2022, worth a combined $34.9M — up 19% from $29.4M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new RFMZ positions and 5 closed out — a net gain of 2 holders — while 10 added to existing stakes and 6 trimmed.

The largest buyer was Stifel Financial, adding an estimated $3.04M. The largest seller was Millennium Management, exiting entirely with an estimated $697K sold.

  • 27 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q2 2022, up from 26 in Q1 2022.
  • Funds reported $34.9M of RiverNorth Flexible Municipal Income Fund II stock for Q2 2022, up 19% quarter-over-quarter.
  • 7 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q2 2022 and 5 closed out, a net change of +2 holders.
  • The largest RiverNorth Flexible Municipal Income Fund II buyer in Q2 2022 was Stifel Financial, an estimated $3.04M added.
  • The largest RiverNorth Flexible Municipal Income Fund II seller in Q2 2022 was Millennium Management, an estimated $697K sold.

Based on aggregated 13F filings for Q2 2022.