RiverFront Strategic Income Fund (NYSEARCA:RIGS) Stock Jumps 0.1% – Should You Buy?

Shares of RiverFront Strategic Income Fund (NYSEARCA:RIGS) rose 0.1% on Wednesday. The company traded as high as $22.20 and last traded at $22.13. 9,877 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 10,969 shares. The stock had previously closed at $22.10.

RiverFront Strategic Income Fund Stock Up 0.1%

The stock has a fifty day moving average price of $22.31 and a two-hundred day moving average price of $22.59.

Institutional Investors 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 stake in shares of RiverFront Strategic Income Fund (NYSEARCA:RIGS) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,378 shares of the company’s stock after acquiring an additional 3,550 shares during the period. Janney Montgomery Scott LLC owned about 1.75% of RiverFront Strategic Income Fund worth $1,151,000 as of its most recent SEC filing.

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.