Short Interest in RiverFront Strategic Income Fund (NYSEARCA:RIGS) Increases By 966.7%

RiverFront Strategic Income Fund (NYSEARCA:RIGS) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,920 shares, an increase of 966.7% from the February 12th total of 180 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 14,971 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 14,971 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On RiverFront Strategic Income Fund

A hedge fund recently raised its stake in RiverFront Strategic Income Fund stock. Janney Montgomery Scott LLC lifted its position in shares of RiverFront Strategic Income Fund (NYSEARCA:RIGS) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,828 shares of the company’s stock after purchasing an additional 6,253 shares during the period. Janney Montgomery Scott LLC owned about 1.54% of RiverFront Strategic Income Fund worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

RiverFront Strategic Income Fund Stock Performance

RiverFront Strategic Income Fund stock traded down $0.13 during mid-day trading on Thursday, reaching $22.93. The company had a trading volume of 10,630 shares, compared to its average volume of 12,796. The business has a fifty day simple moving average of $23.14 and a 200 day simple moving average of $23.19. RiverFront Strategic Income Fund has a fifty-two week low of $21.25 and a fifty-two week high of $24.32.

RiverFront Strategic Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Thursday, February 19th were issued a $0.0832 dividend. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, February 19th.

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.