O'Neill buys RiverNorth flexible municipal income fund II shares

Portfolio Manager Stephen O’Neill acquired 1,500 shares of RiverNorth Flexible Municipal Income Fund II (RFMZ) at $12.7095 per share, increasing his direct ownership to 11,500 shares. RFMZ, a $309 million market capitalization fund, is notable for its 8.1% dividend yield and low price volatility, currently trading near $12.61. This insider purchase suggests a manager's increased conviction in a fund offering attractive income and stability.

Analysis

A recent insider transaction at RiverNorth Flexible Municipal Income Fund II (RFMZ) indicates a positive signal from management. Portfolio Manager Stephen O’Neill increased his direct ownership to 11,500 shares by acquiring an additional 1,500 shares at $12.7095 each, a total investment of $19,064. This purchase reinforces conviction in a fund characterized by a substantial 8.1% dividend yield and low price volatility. Despite the fund's shares trading down approximately 1% year-to-date to a level near $12.61, the manager's action suggests a belief that the fund is well-positioned for its income-generating mandate. The fund's $309 million market capitalization and stable nature position it as a niche vehicle for income-focused investors, with the insider buy acting as a key vote of confidence in its current valuation and strategy.

Key Decisions for Investors

• Investors should view the portfolio manager's purchase as a strong signal of insider conviction in the fund's stable, income-generating profile at its current valuation.
• The fund's high 8.1% dividend yield combined with its noted low price volatility may appeal to income-oriented investors, especially given the manager's increased stake.
• Consider that the current trading price near $12.61 is below the manager's recent purchase price of $12.7095, potentially offering a tactical entry point for those aligning with a stable income strategy.