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RiverNorth Flexible Municipal Income Fund II, Inc. Stock: price and insider trades · United States
No insider purchase over the last 90 days. The latest, by RiverNorth Financial Holdings, LLC, was filed 04 Dec 2025.
RiverNorth Flexible Municipal Income Fund II, Inc.: what insiders have been doing
RiverNorth Flexible Municipal Income Fund II, Inc. is a Finance & Banking company. Its directors and officers file their transactions with SEC (Form 4). From 22 October 2025 to 22 October 2026, the disclosure feed for RiverNorth Flexible Municipal Income Fund II, Inc. logged 5 filings by 2 insiders.
Purchases and sales both appear in the filings: 3 purchases (1 insider, €153k) and 2 sales (1 insider, €111k). On balance, insiders were net buyers of €42k. Unlike grants, an open-market purchase is paid for by the insider, at the market price. One trade stands out by size: a sale of €111k from Dimella Robert A, disclosed on 24 November 2025.
The clock since the last published purchase (4 December 2025) now reads 323 days. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 1 day. The legal deadline for a Form 4 is two business days after the transaction.
Compared with its exchange (2,023 companies, median 41 filings), a count of 5 filings is below the norm. The full history, which starts in 2021, counts 33 purchases against 9 sales.
In the same sector, recent insider purchases at Dynex Capital Inc and Presurance Holdings, Inc. also feature in our signals. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.
Insider Decl.
63
Thresholds
n/a
Buy Volume
€952,490
33 ops. · all time
Sell Volume
€359,643
9 ops. · all time
Who traded when
BuySaleStephen Andrew O'Neill10 buys
RiverNorth Financial Holdings, LLC3 buys
Robert A. Dimella2 sales
Jonathan Paul Browne1 buy
Since the insiders bought
- -9.0%Entry US$12.94 · Close 16 Oct 2026 US$11.77
- +6.6%Entry US$12.49 · Close at T+365 US$13.32
- +4.6%Entry US$12.44 · Close at T+365 US$13.01
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2026FY ended June 2026 · cache
US$11.77
Analyst consensus
Income statement
RevenueUS$39.3M
Net incomeUS$39.1M99.5% margin
Valuation
PER (trailing)7.4x
Balance sheet & cash
Market capUS$286.6M
Total debtUS$236.5M
Free Cash FlowUS$27.3M
Profitability & ownership
% insiders0.1%
% institutions32.6%
Last declaration on 4 December 2025
Declarations63 total
3,791 shares@ US$12.7827.1% of flowCommon StockSEC:0001398344-25-021791:1
Canonical exit: 4 Mar 2026 (T+90)
2,065 shares@ US$12.738720.2% of flowCommon StockSEC:0001398344-25-021791:0
Canonical exit: 3 Mar 2026 (T+90)
8,177 shares@ US$12.666779.8% of flowCommon StockSEC:0001398344-25-021653:0
Canonical exit: 2 Mar 2026 (T+90)
0.013 shares@ US$12.730.0% of flowCommon StockSEC:0000898432-25-000941:0
10,061 shares@ US$12.78643.3% of flowCommon StockSEC:0000898432-25-000925:0
2,000 shares@ US$12.636.0% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013440:1
Canonical exit: 15 Oct 2025 (T+90)
935 shares@ US$12.582.8% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013440:2
Canonical exit: 15 Oct 2025 (T+90)
3,000 shares@ US$12.579.0% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013436:1
Canonical exit: 16 Oct 2025 (T+90)
2,065 shares@ US$12.599.7% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013440:0
Canonical exit: 15 Oct 2025 (T+90)
2,000 shares@ US$12.56919.4% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013436:0
Canonical exit: 16 Oct 2025 (T+90)
500 shares@ US$12.701.5% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013286:1
Canonical exit: 14 Oct 2025 (T+90)
5,000 shares@ US$12.7115.1% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013286:2
Canonical exit: 14 Oct 2025 (T+90)
500 shares@ US$12.681.5% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013286:3
Canonical exit: 14 Oct 2025 (T+90)
2,500 shares@ US$12.6711.8% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013286:0
Canonical exit: 14 Oct 2025 (T+90)
1,500 shares@ US$12.70957.1% of flowCommon Shares of Beneficial InterestSEC:0001398344-25-013260:0
Canonical exit: 14 Oct 2025 (T+90)
725 shares@ US$13.94100.0% of flowCommon StockSEC:0001398344-25-007042:0
Canonical exit: 9 Jul 2025 (T+90)
170,683 sharesCommon Shares of Beneficial InterestSEC:0001398344-24-021896:0
2,000 shares@ US$13.9023.4% of flowCommon StockSEC:0000898432-24-000397:0
22,545 shares@ US$13.237717.2% of flowCommon Shares of Beneficial InterestSEC:0001398344-23-023496:0
17,662 shares@ US$13.31613.6% of flowCommon Shares of Beneficial InterestSEC:0001398344-23-023356:0
17,662 shares@ US$13.389.7% of flowCommon Shares of Beneficial InterestSEC:0001398344-23-023271:1
17,181 shares@ US$13.359413.3% of flowCommon Shares of Beneficial InterestSEC:0001398344-23-023271:0
5,659 shares@ US$13.404.4% of flowCommon Shares of Beneficial InterestSEC:0001398344-23-022870:0
11,631 shares@ US$13.339.0% of flowCommon Shares of Beneficial InterestSEC:0001398344-23-022792:0
14,290 shares@ US$13.399911.3% of flowCommon Shares of Beneficial InterestSEC:0001398344-23-022636:0
25 of 63 declarations
About RiverNorth Flexible Municipal Income Fund II, Inc.
RiverNorth Flexible Municipal Income Fund II, Inc. (ticker: RFMZ) is a U.S.-listed closed-end fund traded on the NYSE. It is organized as a Maryland corporation and registered as a diversified management investment company under the Investment Company Act of 1940. The fund commenced operations on February 24, 2021 following its initial public offering, which raised approximately $440 million of equity capital net of offering expenses. RFMZ is advised through RiverNorth Capital Management, LLC, a U.S. investment manager founded in 2000 and known for its opportunistic closed-end fund expertise and income-oriented strategies. RiverNorth’s business footprint is centered in the United States, with a presence in West Palm Beach, Florida, and historical ties to Chicago, Illinois.
The fund’s primary investment objective is to provide current income exempt from regular U.S. federal income taxes, with a secondary objective of total return. Its structure is distinctive: rather than relying on a single sleeve, the portfolio is built around two complementary strategies. The Tactical Municipal Closed-End Fund strategy, managed by RiverNorth, seeks to capture value from discounts and premiums in municipal closed-end funds and selected municipal ETFs. The Municipal Bond Income strategy, managed by MacKay Shields LLC, primarily invests in municipal bonds. RiverNorth has discretion to adjust the allocation between these two sleeves as market conditions evolve, enabling the fund to balance tax-advantaged income generation with tactical flexibility.
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From a competitive standpoint, RFMZ sits in a specialized corner of the municipal bond market. Its differentiation lies in active allocation and closed-end fund arbitrage rather than in plain-vanilla passive exposure. That makes the vehicle particularly relevant for income investors who want municipal tax efficiency but also an active manager willing to shift capital toward the most attractive part of the municipal universe. The fund is part of the broader RiverNorth platform, which focuses on closed-end funds, tactical fixed income and other structured income strategies, giving it access to an established investment process and a recognized niche franchise.
Geographically, the underlying exposure is overwhelmingly U.S.-based, since the portfolio invests in municipal credit in the United States. The issuer itself is also a U.S. company, and the listing venue is the NYSE in the United States. Recent reporting is notable for two points. First, the fund maintained its level distribution policy, with distributions set at 6.75% of the fund’s December 31, 2024 NAV. Second, the annual report for the fiscal year ended June 30, 2025 stated that 89.34% of distributions from net investment income were exempt from U.S. federal income tax. The annual report also highlighted healthy municipal credit fundamentals and favorable supply/demand conditions, while noting that RiverNorth can raise or reduce its exposure to municipal closed-end funds depending on relative valuations. In addition, recent SEC Form 4 activity reflects ongoing insider and affiliated-person transaction reporting, underscoring standard governance and regulatory transparency for the listed fund.
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