Welcome to our dedicated page for RiverNorth Core Opportunity Fund;R news (Ticker: RNCOX), a resource for investors and traders seeking the latest updates and insights on RiverNorth Core Opportunity Fund;R stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect RiverNorth Core Opportunity Fund;R's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of RiverNorth Core Opportunity Fund;R's position in the market.
RiverNorth Capital Management has announced plans to convert its Core Opportunity Fund (RNCOX) into an ETF. The fund, managing approximately $42 million in assets as of March 31, 2025, aims to provide shareholders with enhanced benefits through this conversion.
Key changes include:
- Lower net expenses
- Better tax efficiency
- Increased trading flexibility
The conversion requires shareholder approval, with proxy materials expected in May 2025. Before the planned Q3 2025 conversion, the I share class (RNCIX) will merge into the R share class (RNCOX) around July 7, 2025. The fund's 12(b)-1 program will end on June 30, 2025, resulting in a 0.25% reduction in annual operating expenses for Class R shareholders.
The fund's strategy focuses on capitalizing on closed-end fund market inefficiencies, investing in closed-end funds, investment company debt, ETFs, business development companies, and special purpose acquisition companies.
RiverNorth Capital Management announced that its Core Opportunity Fund (RNCOX) has won the 2022 Lipper Fund Award for Best Alternative Global Macro Fund for the ten-year period ending November 30, 2021. This is the fifth time the Fund received this award. The Lipper Awards recognize funds with strong risk-adjusted performance. CEO Patrick Galley highlighted the Fund's opportunistic strategy, particularly in volatile markets, which includes closed-end fund discount trading. RiverNorth manages approximately
