Patrick W. Galley, RiverNorth

About the Author

Patrick W. Galley, RiverNorth

Patrick W. Galley is the chief investment officer of RiverNorth Capital Management, LLC. an investment management firm based in Chicago. The firm specializes in quantitative and qualitative closed-end fund trading strategies and is the investment adviser to RiverNorth Funds.

• Flight to Safety Benefited Government and Agency Closed-End Funds

  By Patrick W. Galley, RiverNorth  |  January 4, 2012

  In November, closed-end fund investors flocked to governments and agencies, narrowing the discount, RiverNorth reports

• Closed-End Fund Investors Still Wanted Fixed Income in May

  By Patrick W. Galley, RiverNorth  |  June 17, 2011

  Equity closed-end fund discounts remained stable during the month, while those of fixed income CEFs narrowed.

• Closed-End Funds Present Investing Opportunities, and Pitfalls

  By Patrick W. Galley, RiverNorth  |  May 18, 2011

  CE funds had a strong April and have returned more than 25% over the past year, but rising short-term interest rates are a risk to watch

• February Yields Mostly Positive Results for Closed-End Funds

  By Patrick W. Galley, RiverNorth  |  April 10, 2011

  The RiverNorth Closed-End Fund Index’s best performing asset class in February was Convertible Bonds, returning 7.23%, driven by 3.7% discount narrowing.

• A Good January for Closed-End Funds

  By Patrick W. Galley, RiverNorth  |  February 11, 2011

  The RiverNorth Closed-End Fund Index is up 1% in January, with an average discount of 3.28%

• The Volatile Ride of Closed-End Funds in 2010

  By Patrick W. Galley, RiverNorth  |  January 11, 2011

  But a healthy increase for the year—to $5.9 billion—in closed-end fund IPOs.

• A Volatile Ride for Closed-End Funds in 2010

  By Patrick W. Galley, RiverNorth  |  January 4, 2011

  A healthy increase for the year—to %5.9 billion—in CE fund IPOs.

• Why Closed-End Funds Provide Good Entrée into MLPs

  By Patrick W. Galley, RiverNorth  |  December 5, 2010

  Closed-end funds in the U.S. equity space still trade at attractive discounts

• November’s Closed-End Fund Theme: Volatility in Muni Bonds

  By Patrick W. Galley, RiverNorth  |  November 26, 2010

  The story in closed-end funds in November has been the volatility in the municipal asset class, with 12-month highs in trading volume, widening discounts and lower prices.

• The Closed-End Fund Alpha Opportunity: Skittish Asset Prices

  By Patrick W. Galley, RiverNorth  |  October 1, 2010

  Fear and greed abound in today's markets. However, there is a bright spot: skittish times mean skittish asset prices, and that's where the opportunity now lies in closed-end funds. The alpha potential is in the inefficiencies of the closed-end market.