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RFMZ

RiverNorth Flexible Municipal Income Fund II
RFMZ

30 hedge funds and large institutions have $39M invested in RiverNorth Flexible Municipal Income Fund II in 2022 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 12 increasing their positions, 6 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 4

100% more repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 6

12% more capital invested

Capital invested by funds: $34.9M → $39M (+$4.11M)

11% more funds holding

Funds holding: 27 → 30 (+3)

1.15% more ownership

Funds ownership: 10.94% → 12.09% (+1.2%)

Holders
30
Holders Change
+3
Holders Change %
+11.11%
% of All Funds
0.52%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
12
Reduced
6
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$2.57M
2
Wells Fargo
Wells Fargo
California
+$1.6M
3
UBS Group
UBS Group
Switzerland
+$1.45M
4
Stifel Financial
Stifel Financial
Missouri
+$1.36M
5
Rockefeller Capital Management
Rockefeller Capital Management
New York
+$1.14M

Top Sellers

Rank Fund Capital Flow
1
VanEck Associates
VanEck Associates
New York
-$1.59M
2
RCM
Robinson Capital Management
Michigan
-$617K
3
CAN
Cetera Advisor Networks
California
-$448K
4
WAM
Wolverine Asset Management
Illinois
-$242K
5
CCP
Clough Capital Partners
Massachusetts
-$190K
Name Holding Trade Value Shares
Change 		Change in
Stake
Rockefeller Capital Management
1
Rockefeller Capital Management
New York
$6.53M +$1.14M +78,156 +19%
UBS Group
2
UBS Group
Switzerland
$6.28M +$1.45M +99,944 +27%
Wells Fargo
3
Wells Fargo
California
$5.47M +$1.6M +110,366 +36%
Stifel Financial
4
Stifel Financial
Missouri
$5.02M +$1.36M +93,260 +33%
Morgan Stanley
5
Morgan Stanley
New York
$3.4M +$2.57M +176,695 +220%
Royal Bank of Canada
6
Royal Bank of Canada
Ontario, Canada
$2.85M +$750K +51,592 +32%
WS
7
Wedbush Securities
California
$2.03M +$297K +20,446 +15%
HKIM
8
Hayek Kallen Investment Management
Alabama
$1.24M -$14.2K -976 -1%
CAN
9
Cetera Advisor Networks
California
$800K -$448K -30,848 -34%
Osaic Holdings
10
Osaic Holdings
Arizona
$794K -$77.5K -5,331 -8%
MC
11
Moors & Cabot
Massachusetts
$596K +$502K +34,500 +329%
CA
12
Corrado Advisors
New Jersey
$557K -$93.6K -6,437 -13%
RCM
13
Robinson Capital Management
Michigan
$466K -$617K -42,415 -55%
H6H
14
Hightower 6M Holding
Kansas
$404K +$443K +30,489 New
CIC
15
Carnegie Investment Counsel
Ohio
$398K – – –
RJFSA
16
Raymond James Financial Services Advisors
Florida
$361K +$87.2K +6,000 +28%
MC
17
Mathes Company
New York
$331K – – –
Millennium Management
18
Millennium Management
New York
$285K +$313K +21,519 New
XF
19
XML Financial
Maryland
$265K +$291K +20,000 New
PAG
20
Private Advisor Group
New Jersey
$220K +$54.9K +3,775 +29%
Janney Montgomery Scott
21
Janney Montgomery Scott
Pennsylvania
$163K +$179K +12,287 New
BRWA
22
B. Riley Wealth Advisors
Florida
$161K +$176K +12,127 New
USCWA
23
U.S. Capital Wealth Advisors
Texas
$140K +$154K +10,600 New
MHS
24
M Holdings Securities
Oregon
$133K – – –
M
25
MOTCO
Texas
$53K +$58.1K +4,000 New
1
2

RFMZ Hedge Fund Activity: Q3 2022 in Review

30 of the 5,805 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q3 2022, worth a combined $39M — up 12% from $34.9M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new RFMZ positions and 4 closed out — a net gain of 4 holders — while 12 added to existing stakes and 6 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $2.57M. The largest seller was VanEck Associates, exiting entirely with an estimated $1.59M sold.

  • 30 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q3 2022, up from 27 in Q2 2022.
  • Funds reported $39M of RiverNorth Flexible Municipal Income Fund II stock for Q3 2022, up 12% quarter-over-quarter.
  • 8 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q3 2022 and 4 closed out, a net change of +4 holders.
  • The largest RiverNorth Flexible Municipal Income Fund II buyer in Q3 2022 was Morgan Stanley, an estimated $2.57M added.
  • The largest RiverNorth Flexible Municipal Income Fund II seller in Q3 2022 was VanEck Associates, an estimated $1.59M sold.

Based on aggregated 13F filings for Q3 2022.