Form 4: RiverNorth Capital Management Transfers 170,683 Shares of RFMZ to Sister Company

RiverNorth Capital Management, LLC transferred 170,683 shares of RiverNorth Flexible Municipal Income Fund II, Inc. (RFMZ) to a sister company within its organization.

Summary

• RiverNorth Capital Management, LLC, an adviser to RiverNorth Flexible Municipal Income Fund II, Inc. (RFMZ), transferred 170,683 common shares of beneficial interest.
• The shares were transferred to a sister company within the same overall organization.
• The transfer was not a sale and did not involve a transaction price.
• The transaction occurred on November 22, 2024.

Sentiment

Score: 5

Explanation: The document describes a routine internal transfer of shares, which is neither positive nor negative for the fund's performance. It is a neutral event.

Industry Context

This type of transaction is common within large financial organizations for internal restructuring and does not necessarily indicate a change in the fund's performance or strategy.

Comparison to Industry Standards

• Internal transfers of shares between related entities are a standard practice in the financial industry.
• Such transfers are often done for tax or organizational purposes and do not typically reflect a change in the underlying value or performance of the asset.
• Similar transactions can be seen across various asset management firms and investment funds.

Related Party Transactions

• The transfer of shares to a sister company is a related party transaction.

Stakeholder Impact

• The transfer of shares is unlikely to have a significant impact on shareholders as it is an internal transaction.

Key Dates

Keywords

RiverNorth Capital Management, RFMZ, share transfer, beneficial ownership, municipal income fund, adviser