RiverFront Strategic Income Fund (NYSEARCA:RIGS) Shares Up 1.4% – Time to Buy?

RiverFront Strategic Income Fund (NYSEARCA:RIGS)’s stock price rose 1.4% on Monday . The company traded as high as $22.68 and last traded at $22.50. Approximately 24,354 shares were traded during trading, an increase of 2% from the average daily volume of 23,836 shares. The stock had previously closed at $22.20.

RiverFront Strategic Income Fund Stock Performance

The company’s 50 day moving average is $22.92 and its two-hundred day moving average is $22.97.

Hedge Funds Weigh In On RiverFront Strategic Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arkansas Financial Group Inc. boosted its holdings in shares of RiverFront Strategic Income Fund by 16.6% in the 4th quarter. Arkansas Financial Group Inc. now owns 94,370 shares of the company’s stock worth $2,182,000 after purchasing an additional 13,423 shares during the period. Janney Montgomery Scott LLC lifted its position in RiverFront Strategic Income Fund by 5.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 40,077 shares of the company’s stock worth $927,000 after buying an additional 2,111 shares during the last quarter. Finally, YANKCOM Partnership purchased a new position in RiverFront Strategic Income Fund during the fourth quarter worth $327,000.

RiverFront Strategic Income Fund Company Profile

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.