RiverFront Strategic Income Fund (NYSEARCA:RIGS) Trading 0.4% Higher – Should You Buy?

RiverFront Strategic Income Fund (NYSEARCA:RIGS)’s share price was up 0.4% during mid-day trading on Monday . The stock traded as high as $22.87 and last traded at $22.80. Approximately 5,064 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 12,506 shares. The stock had previously closed at $22.71.

RiverFront Strategic Income Fund Stock Performance

The firm’s fifty day moving average price is $22.92 and its 200 day moving average price is $23.11.

Hedge Funds Weigh In On RiverFront Strategic Income Fund

Several institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of RiverFront Strategic Income Fund by 26.9% in the third quarter. Farther Finance Advisors LLC now owns 3,745 shares of the company’s stock valued at $88,000 after purchasing an additional 795 shares during the period. Janney Montgomery Scott LLC grew its stake in RiverFront Strategic Income Fund by 5.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 40,077 shares of the company’s stock valued at $927,000 after buying an additional 2,111 shares during the last quarter. Finally, Arkansas Financial Group Inc. raised its holdings in RiverFront Strategic Income Fund by 15.2% in the 3rd quarter. Arkansas Financial Group Inc. now owns 80,947 shares of the company’s stock worth $1,900,000 after acquiring an additional 10,686 shares during the period.

About RiverFront Strategic Income Fund

The RiverFront Strategic Income Fund (RIGS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed global fixed-income portfolio that invests in various types of fixed-income securities without currency limitation. RIGS was launched on Oct 9, 2013 and is managed by RiverFront.