RiverFront Strategic Income Fund (NYSEARCA:RIGS) Stock Price Up 0.3% – Still a Buy?

RiverFront Strategic Income Fund (NYSEARCA:RIGS) shot up 0.3% during mid-day trading on Thursday . The company traded as high as $23.26 and last traded at $23.20. 767 shares traded hands during trading, a decline of 90% from the average session volume of 7,607 shares. The stock had previously closed at $23.13.

RiverFront Strategic Income Fund Stock Up 0.3%

The stock’s 50 day simple moving average is $23.14 and its two-hundred day simple moving average is $23.16.

Hedge Funds Weigh In On RiverFront Strategic Income Fund

An institutional investor recently raised its position in RiverFront Strategic Income Fund stock. Janney Montgomery Scott LLC raised its holdings in shares of RiverFront Strategic Income Fund (NYSEARCA:RIGS) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,615 shares of the company’s stock after acquiring an additional 2,912 shares during the quarter. Janney Montgomery Scott LLC owned approximately 1.12% of RiverFront Strategic Income Fund worth $1,038,000 at the end of the most recent reporting period.

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.