RiverNorth Flexible Municipal Income Fund II
RFMZ
48 hedge funds and large institutions have $81.3M invested in RiverNorth Flexible Municipal Income Fund II in 2025 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 22 increasing their positions, 12 reducing their positions, and 9 closing their positions.
83% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 12
1% more capital invested
Capital invested by funds: $80.4M → $81.3M (+$897K)
0.24% more ownership
Funds ownership: 24.62% → 24.86% (+0.24%)
11% less funds holding
Funds holding: 54 → 48 (-6)
56% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 9
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pathstone Holdings
Englewood,
New Jersey
|
+$2.14M |
| 2 |
AW
Atlas Wealth
Cincinnati,
Ohio
|
+$1.14M |
| 3 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$657K |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
+$580K |
| 5 |
Rockefeller Capital Management
New York
|
+$541K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$1.84M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$1.45M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$505K |
| 4 |
RAM
Readystate Asset Management
Chicago,
Illinois
|
-$308K |
| 5 |
BRWA
B. Riley Wealth Advisors
Boca Raton,
Florida
|
-$270K |
RFMZ Hedge Fund Activity: Q1 2025 in Review
48 of the 7,472 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q1 2025, worth a combined $81.3M — up 1.1% from $80.4M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of RFMZ and 4 opened new positions — a net loss of 5 holders — while 12 trimmed existing stakes and 22 added.
The largest buyer was Pathstone Holdings, adding an estimated $2.14M. The largest seller was Independent Advisor Alliance, exiting entirely with an estimated $1.84M sold.
- 48 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q1 2025, down from 54 in Q4 2024.
- Funds reported $81.3M of RiverNorth Flexible Municipal Income Fund II stock for Q1 2025, up 1.1% quarter-over-quarter.
- 4 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q1 2025 and 9 closed out, a net change of -5 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q1 2025 was Pathstone Holdings, an estimated $2.14M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q1 2025 was Independent Advisor Alliance, an estimated $1.84M sold.
Based on aggregated 13F filings for Q1 2025.