Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Rivernorth Flexible Muni Inc (RFMZ)

57 + Investors. Track Smart Money conviction in RFMZ. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +1
Streak
1Q ▲
Buyers last Q
56%

Smart Money Signals — RFMZ

Based on 57 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added RFMZ than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (97% of max)

97% of all-time peak
57 hedge funds hold RFMZ right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +10% more funds vs a year ago

fund count last 6Q
+5 new funds entered over the past year (+10% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 56% buying

28 buying22 selling
Last quarter: 28 funds bought or added vs 22 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~9 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 7 → 14 → 6 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

46% of holders stayed for 2+ years

■ 46% conviction (2yr+) ■ 28% medium ■ 26% new
26 out of 57 hedge funds have held RFMZ for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📊

Peak discovery — momentum slowing

9 → 7 → 14 → 6 → 9 new funds/Q
New funds entering each quarter: 7 → 14 → 6 → 9. RFMZ is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 51% veterans vs 33% newcomers

■ 51% veterans ■ 16% 1-2yr ■ 33% new
Entry-cohort mix of 57 holders: 29 (51%) are 2+ year veterans, 9 entered 1–2 years ago, and 19 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 32% AUM from major funds

32% from top-100 AUM funds
9 of 57 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — RFMZ

In 2026 Q2, 28 hedge funds were net buyers of RFMZ (9 opened a new position, 19 added to an existing one), while 22 reduced or exited (14 trimmed, 8 sold completely) — a 56% buyer ratio, indicating a slight buying edge. 32% of total institutional value in RFMZ is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +1 funds (more new holders than closures). Total institutional holders: 57.

Hedge Fund Ownership: RFMZ

How many hedge funds hold RFMZ — quarterly history vs. share price
Quarterly hedge fund ownership of RFMZ vs. share price

Market Analysis: RFMZ

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: RFMZ

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Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 1 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
1.4
/ 10
conviction
Hedge Fund Positioning: RFMZ
2026 Q3 Stats Unlock in 4 days 57 + Investors

Track Smart Money conviction in RFMZ. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 57 56 1.79%
13F Shares 8M 7M 7.86%
Total Value $106M $93M 13.88%
New Positions 9 6 +3
Increased Positions 19 20 -1
Closed Positions 8 9 -1
Reduced Positions 14 15 -1
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: RFMZ

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Institutional Holders (2026 Q3)

57 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in RFMZ. Verified SEC 13F-HR filings.

QUARTER:
2026 Q3 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 RFMZ holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Robinson Capital Management, LLC 3.86% 643,727 $7.5M
2 Professional Financial Management, Inc. 1.90% 159,410 $1.9M
3 Closed-End Fund Advisors, Inc. 1.69% 138,873 $1.6M
4 Thomas J. Herzfeld Advisors, Inc. 0.89% 217,179 $2.5M
5 Atlas Wealth LLC 0.80% 493,033 $5.8M
6 Noble Wealth Management PBC 0.39% 74,103 $867K
7 River Street Advisors LLC 0.10% 28,566 $334K
8 Karpus Management, Inc. 0.08% 241,191 $2.8M
9 PUREfi Wealth, LLC 0.08% 14,441 $169K
10 PW Nova Financial Services LLC 0.07% 28,297 $331K
11 Riverbridge Partners LLC 0.04% 117,095 $1.4M
12 Pathstone Holdings, LLC 0.03% 814,770 $9.5M
13 Oppenheimer & Co Inc 0.02% 162,735 $1.9M
14 Rockefeller Capital Management L.P. 0.02% 960,473 $11.2M
15 Caliber Wealth Management, LLC / Ks 0.01% 12,000 $140K
16 XML Financial, LLC 0.01% 15,000 $176K
17 Compass Financial Management LLC 0.01% 6,011 $70K
18 Carnegie Investment Counsel 0.01% 30,000 $351K
19 Concurrent Investment Advisors, LLC 0.01% 62,375 $730K
20 PFG Investments, LLC 0.00% 10,300 $121K
21 NewEdge Advisors, LLC 0.00% 91,119 $1.1M
22 Choreo, LLC 0.00% 25,351 $297K
23 EverSource Wealth Advisors, LLC 0.00% 6,037 $71K
24 Stifel Financial Corp 0.00% 218,163 $2.6M
25 Private Advisor Group, LLC 0.00% 47,711 $558K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Rivernorth Flexible Muni Inc (RFMZ)

What does the Smart Money Trend signal show for RFMZ?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added RFMZ than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for RFMZ?

Slight buying edge — 56% buying: Last quarter: 28 funds bought or added vs 22 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for RFMZ holders?

Strong quality — 32% AUM from major funds: 9 of 57 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held RFMZ?

46% of holders stayed for 2+ years: 26 out of 57 hedge funds have held RFMZ for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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