RiverFront Strategic Income Fund (NYSEARCA:RIGS) Shares Down 2.4% – Here’s What Happened

RiverFront Strategic Income Fund (NYSEARCA:RIGS) shares fell 2.4% during trading on Friday . The stock traded as low as $22.14 and last traded at $22.16. 4,880 shares changed hands during trading, a decline of 58% from the average session volume of 11,662 shares. The stock had previously closed at $22.70.

RiverFront Strategic Income Fund Stock Performance

The company’s 50 day moving average price is $22.83 and its 200 day moving average price is $23.01.

Institutional Investors Weigh In On RiverFront Strategic Income Fund

A hedge fund recently raised its stake in RiverFront Strategic Income Fund stock. Janney Montgomery Scott LLC boosted its stake in shares of RiverFront Strategic Income Fund (NYSEARCA:RIGS) by 7.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,378 shares of the company’s stock after purchasing an additional 3,550 shares during the quarter. Janney Montgomery Scott LLC owned about 1.75% of RiverFront Strategic Income Fund worth $1,151,000 at the end of the most recent quarter.

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.