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RFMZ

RiverNorth Flexible Municipal Income Fund II
RFMZ

54 hedge funds and large institutions have $80.4M invested in RiverNorth Flexible Municipal Income Fund II in 2024 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 15 increasing their positions, 10 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

500% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 3

50% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 10

32% more funds holding

Funds holding: 41 → 54 (+13)

10% more capital invested

Capital invested by funds: $73.3M → $80.4M (+$7.08M)

3.87% more ownership

Funds ownership: 20.75% → 24.62% (+3.9%)

Holders
54
Holders Change
+13
Holders Change %
+31.71%
% of All Funds
0.71%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
18
Increased
15
Reduced
10
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AIA
Absolute Investment Advisers
Florida
+$4.37M
2
UBS Group
UBS Group
Switzerland
+$2.71M
3
IAA
Independent Advisor Alliance
North Carolina
+$1.94M
4
QL
Quarry LP
New York
+$1.69M
5
WAM
Wolverine Asset Management
Illinois
+$1.51M

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$1.98M
2
Corient Private Wealth
Corient Private Wealth
Florida
-$941K
3
Stifel Financial
Stifel Financial
Missouri
-$857K
4
Wells Fargo
Wells Fargo
California
-$614K
5
Morgan Stanley
Morgan Stanley
New York
-$335K
Name Holding Trade Value Shares
Change 		Change in
Stake
Stifel Financial
1
Stifel Financial
Missouri
$11.1M -$857K -60,807 -7%
UBS Group
2
UBS Group
Switzerland
$10.6M +$2.71M +192,365 +32%
Rockefeller Capital Management
3
Rockefeller Capital Management
New York
$10.4M +$564K +40,047 +5%
Wells Fargo
4
Wells Fargo
California
$5.22M -$614K -43,578 -10%
AIA
5
Absolute Investment Advisers
Florida
$4.16M +$4.37M +310,200 New
Royal Bank of Canada
6
Royal Bank of Canada
Ontario, Canada
$3.97M -$260K -18,479 -6%
KIM
7
Karpus Investment Management
New York
$3.84M -$1.98M -140,415 -33%
TJHA
8
Thomas J. Herzfeld Advisors
Florida
$3.42M +$24.9K +1,765 +0.7%
Morgan Stanley
9
Morgan Stanley
New York
$3.36M -$335K -23,769 -9%
Envestnet Asset Management
10
Envestnet Asset Management
Illinois
$2.19M -$63.5K -4,504 -3%
IAA
11
Independent Advisor Alliance
North Carolina
$1.84M +$1.94M +137,379 New
QL
12
Quarry LP
New York
$1.61M +$1.69M +119,836 New
OC
13
Oppenheimer & Co
New York
$1.56M +$279K +19,834 +21%
WS
14
Wedbush Securities
California
$1.51M +$18.5K +1,315 +1%
WAM
15
Wolverine Asset Management
Illinois
$1.45M +$1.51M +107,235 +9,749%
RP
16
Riverbridge Partners
Minnesota
$1.3M +$888 +63 +0.1%
RCM
17
Robinson Capital Management
Michigan
$1.26M +$1.33M +94,156 New
BRWA
18
B. Riley Wealth Advisors
Florida
$1.02M +$61.8K +4,384 +6%
USCWA
19
U.S. Capital Wealth Advisors
Texas
$856K +$200K +14,175 +29%
Pathstone Holdings
20
Pathstone Holdings
New Jersey
$846K +$890K +63,140 New
AW
21
Atlas Wealth
Ohio
$822K +$864K +61,333 New
PAG
22
Private Advisor Group
New Jersey
$766K +$198K +14,068 +33%
CL
23
Choreo LLC
Illinois
$616K +$159K +11,296 +33%
Corient Private Wealth
24
Corient Private Wealth
Florida
$539K -$941K -66,809 -62%
MC
25
Mathes Company
New York
$456K – – –
1
2 3

RFMZ Hedge Fund Activity: Q4 2024 in Review

54 of the 7,592 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q4 2024, worth a combined $80.4M — up 9.7% from $73.3M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new RFMZ positions and 3 closed out — a net gain of 15 holders — while 15 added to existing stakes and 10 trimmed.

The largest buyer was Absolute Investment Advisers, opening a new position worth an estimated $4.37M. The largest seller was Karpus Investment Management, cutting an estimated $1.98M.

  • 54 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q4 2024, up from 41 in Q3 2024.
  • Funds reported $80.4M of RiverNorth Flexible Municipal Income Fund II stock for Q4 2024, up 9.7% quarter-over-quarter.
  • 18 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q4 2024 and 3 closed out, a net change of +15 holders.
  • The largest RiverNorth Flexible Municipal Income Fund II buyer in Q4 2024 was Absolute Investment Advisers, an estimated $4.37M added.
  • The largest RiverNorth Flexible Municipal Income Fund II seller in Q4 2024 was Karpus Investment Management, an estimated $1.98M sold.

Based on aggregated 13F filings for Q4 2024.