RiverNorth Flexible Municipal Income Fund II
RFMZ
44 hedge funds and large institutions have $65.4M invested in RiverNorth Flexible Municipal Income Fund II in 2023 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 11 increasing their positions, 15 reducing their positions, and 3 closing their positions.
367% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 3
114% more capital inflows, than outflows
Capital inflows: $11.6M | Capital outflows: $5.4M
33% more funds holding
Funds holding: 33 → 44 (+11)
1.99% more ownership
Funds ownership: 18.51% → 20.49% (+2%)
27% less repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 15
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$2.26M |
| 2 |
Morgan Stanley
New York
|
+$1.45M |
| 3 |
Envestnet Asset Management
Chicago,
Illinois
|
+$1.42M |
| 4 |
Wolverine Asset Management
Chicago,
Illinois
|
+$982K |
| 5 |
Landscape Capital Management
Englewood,
New Jersey
|
+$974K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Cetera Advisor Networks
El Segundo,
California
|
-$1.48M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$1.14M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$955K |
| 4 |
Moors & Cabot
Boston,
Massachusetts
|
-$405K |
| 5 |
Osaic Holdings
Scottsdale,
Arizona
|
-$260K |
RFMZ Hedge Fund Activity: Q4 2023 in Review
44 of the 6,876 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q4 2023, worth a combined $65.4M — up 18% from $55.5M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new RFMZ positions and 3 closed out — a net gain of 11 holders — while 11 added to existing stakes and 15 trimmed.
The largest buyer was Thomas J. Herzfeld Advisors, opening a new position worth an estimated $2.26M. The largest seller was Cetera Advisor Networks, exiting entirely with an estimated $1.48M sold.
- 44 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q4 2023, up from 33 in Q3 2023.
- Funds reported $65.4M of RiverNorth Flexible Municipal Income Fund II stock for Q4 2023, up 18% quarter-over-quarter.
- 14 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q4 2023 and 3 closed out, a net change of +11 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q4 2023 was Thomas J. Herzfeld Advisors, an estimated $2.26M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q4 2023 was Cetera Advisor Networks, an estimated $1.48M sold.
Based on aggregated 13F filings for Q4 2023.