0001501072 2026-08-14 2026-08-14 0001501072 riv:CommonSharesMember 2026-04-01 2026-06-30 0001501072 riv:CommonSharesMember 2026-01-01 2026-03-31 0001501072 riv:CommonSharesMember 2025-10-01 2025-12-31 0001501072 riv:CommonSharesMember 2025-07-01 2025-09-30 0001501072 riv:CommonSharesMember 2025-04-01 2025-06-30 0001501072 riv:CommonSharesMember 2025-01-01 2025-03-31 0001501072 riv:CommonSharesMember 2024-10-01 2024-12-31 0001501072 riv:CommonSharesMember 2024-07-01 2024-09-30 0001501072 riv:CommonSharesMember 2024-04-01 2024-06-30 0001501072 riv:CommonSharesMember 2024-02-01 2024-04-30 0001501072 riv:CommonSharesMember 2023-11-01 2024-01-31 0001501072 riv:CommonSharesMember 2023-08-01 2023-10-31 0001501072 riv:CommonSharesMember 2023-05-01 2023-07-31 0001501072 riv:CommonSharesMember 2023-02-01 2023-04-30 0001501072 riv:CommonSharesMember 2022-11-01 2023-01-31 0001501072 riv:CommonSharesMember 2022-08-01 2022-10-31 0001501072 riv:CommonSharesMember 2022-05-01 2022-07-31 0001501072 riv:CommonSharesMember 2022-02-01 2022-04-30 0001501072 riv:CommonSharesMember 2021-11-01 2022-01-31 0001501072 riv:CommonSharesMember 2021-08-01 2021-10-31 0001501072 riv:CommonSharesMember 2021-05-01 2021-07-31 0001501072 riv:CommonSharesMember 2021-02-01 2021-04-30 0001501072 riv:CommonSharesMember 2020-11-01 2021-01-31 0001501072 riv:CommonSharesMember 2026-07-16 0001501072 riv:CommonSharesMember 2026-07-16 2026-07-16 0001501072 riv:SeriesAPreferredMember 2026-07-16 2026-07-16 iso4217:USD shares iso4217:USD shares pure false 424B5 0001501072 RiverNorth Opportunities Fund, Inc. The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares would bear, directly or indirectly. <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 80%">Shareholder Transaction Expenses</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 20%; text-align: center">As a Percentage of Offering Price</td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid">Sales Load(1)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">1.00%*</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid">Expenses Borne by Common Shareholders of the Fund(1)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">0.15%*</td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid">Dividend Reinvestment Plan Fees</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">None(2)*</td></tr> </table> <div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F05_zhQF5YabMFLd" style="width: 0.25in">(1)</td><td id="xdx_F1E_zJQ9y00cwO76" style="text-align: justify">Represents the estimated commission and offering costs with respect to the Common Shares being sold under this Prospectus Supplement and the accompanying Prospectus. There is no guarantee that there will be any sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus. Actual sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per Common Share of any such sale may be greater or less than the price set forth under “Capitalization” below, depending on market price of the Common Shares at the time of any such sale.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F0A_zXV8Q7FNmLS2" style="width: 0.25in">(2)</td><td id="xdx_F13_zAhSQ578LCQl" style="text-align: justify">There will be no brokerage charges with respect to Common Shares issued directly by the Fund under the dividend reinvestment plan. You will pay brokerage charges in connection with open market purchases or if you direct the plan agent to sell your Common Shares held in a dividend reinvestment account.</td></tr></table></div> 0.0100 0.0015 0 <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 80%"> </td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 20%; text-align: center">As a Percentage of Net Assets Attributable to Common Shares (Assuming the Use of Leverage Equal to 23.89% of the Fund’s Managed Assets)</td></tr> <tr style="vertical-align: top"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid">Annual Expenses</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"> </td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt">Management fee(3)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">1.72%</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt">Leverage costs(4)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">0.05%</td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt">Dividends on Preferred Shares(5)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">1.91%</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt">Dividend and Interest Expense on Short Sales</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">0.03%</td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt">Other expenses</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">0.04%</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt">Acquired fund fees and expenses(6)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">1.36%</td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt">Total annual expenses</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">5.11%</td></tr> </table> <div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F0D_z5poPKDiKdDj" style="width: 0.25in">(3)</td><td style="text-align: justify">The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. With leverage, Managed Assets are greater in amount than net assets, because Managed Assets include assets attributable to the Fund’s use of leverage created by its borrowings. In addition, the mark-to-market value of the Fund’s derivatives will be used for purposes of calculating Managed Assets. The management fee of 1.30% of the Fund’s Managed Assets represents 1.72% of net assets attributable to Common Shares assuming the use of leverage in an amount of 23.89% of the Fund’s Managed Assets. </td></tr></table></div><div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F00_z5RPAWSgMNp4" style="width: 0.25in">(4)</td><td id="xdx_F18_z7Il2YtGv0lh" style="text-align: justify">“Leverage costs” are estimated to reflect actual leverage outstanding as of December 31, 2025 and estimated interest and associated costs. Actual leverage costs incurred in the future may be higher or lower as the actual amount of interest expense borne by the Fund will vary over time in accordance with the level of the Fund’s use of leverage and variations in market interest rates. See “Use of Leverage” in the accompanying Prospectus.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F0A_zU99B2HjiED6" style="width: 0.25in">(5)</td><td id="xdx_F13_zq4QUM6sb06a" style="text-align: justify">As of December 31, 2025, the Fund has issued 3,910,000 shares of 6.00% Series A Preferred Stock</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F02_z2AlQ4MhZlMh" style="width: 0.25in">(6)</td><td style="text-align: justify">The “Acquired Fund Fees and Expenses” disclosed above are based on the expense ratios for the most recent fiscal year of the Underlying Funds in which the Fund anticipates investing, which may change substantially over time and, therefore, significantly affect Acquired Fund Fees and Expenses. These amounts are based on the total expense ratio disclosed in each Underlying Fund’s most recent stockholder report. Some of the Underlying Funds in which the Fund intends to invest charge incentive fees based on the Underlying Funds’ performance. The 1.36% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds and transaction-related fees. Certain Underlying Funds in which the Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included in “Acquired Fund Fees and Expenses,” as applicable. The Acquired Fund Fees and Expenses disclosed above, however, do not reflect any performance-based fees or allocations paid by the Underlying Funds that are calculated solely on the realization and/or distribution of gains, or on the sum of such gains and unrealized appreciation of assets distributed in-kind, as such fees and allocations for a particular period may be unrelated to the cost of investing in the Underlying Funds. Future Underlying Funds’ fees and expenses may be substantially higher or lower because certain fees may be based on the performance of the Underlying Funds, which may fluctuate over time. Acquired Fund Fees and Expenses are borne indirectly by the Fund, but they will not be reflected in the Fund’s financial statements; and the information presented in the table will differ from that presented in the Fund’s financial highlights.</td></tr></table></div> 0.0172 0.0005 0.0191 0.0003 0.0004 0.0136 0.0511 <div id="xdx_A89_ecef--ExpenseExampleTableTextBlock_gRBEETTB-OV_zUa48ft7SRSl"> Example (7) The purpose of the following table is to help a holder of Common Shares understand the fees and expenses that such holder would bear directly or indirectly. The following example illustrates the expenses that you would pay on a $1,000 investment in Common Shares, assuming (1) payment in year 1 of a commission of 1.00% on the investment and estimated offering costs of $257,558, (2) “Total annual expenses” of 5.11% of its net assets in years 1 through 10 and (2) a 5% annual return. <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 40%"> </td> <td style="border-bottom: Black 1pt solid; width: 15%; text-align: center">1 year</td> <td style="border-bottom: Black 1pt solid; width: 15%; text-align: center">3 years</td> <td style="border-bottom: Black 1pt solid; width: 15%; text-align: center">5 years</td> <td style="border-bottom: Black 1pt solid; width: 15%; text-align: center">10 years</td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td>Total Expenses Incurred</td> <td style="text-align: center">$51</td> <td style="text-align: center">$152</td> <td style="text-align: center">$252</td> <td style="text-align: center">$503</td></tr> </table></div> The example should not be considered a representation of future expenses. Actual expenses may be greater or less than those assumed. <div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F06_zyIyaJTHZWMg" style="width: 0.25in">(7)</td><td style="text-align: justify">The example should not be considered a representation of future expenses. The example assumes that the estimated “Other Expenses” set forth in the table are accurate and that all dividends and distributions are reinvested at net asset value and that the Fund is engaged in leverage of 23.89% of Managed Assets. Actual expenses may be greater or less than those shown. Moreover, the Fund’s actual rate of return may be greater or less than the hypothetical 5% annual return shown in the example. </td></tr></table></div> 51 152 252 503 The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. With leverage, Managed Assets are greater in amount than net assets, because Managed Assets include assets attributable to the Fund’s use of leverage created by its borrowings. In addition, the mark-to-market value of the Fund’s derivatives will be used for purposes of calculating Managed Assets. The management fee of 1.30% of the Fund’s Managed Assets represents 1.72% of net assets attributable to Common Shares assuming the use of leverage in an amount of 23.89% of the Fund’s Managed Assets. The “Acquired Fund Fees and Expenses” disclosed above are based on the expense ratios for the most recent fiscal year of the Underlying Funds in which the Fund anticipates investing, which may change substantially over time and, therefore, significantly affect Acquired Fund Fees and Expenses. These amounts are based on the total expense ratio disclosed in each Underlying Fund’s most recent stockholder report. Some of the Underlying Funds in which the Fund intends to invest charge incentive fees based on the Underlying Funds’ performance. The 1.36% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds and transaction-related fees. Certain Underlying Funds in which the Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included in “Acquired Fund Fees and Expenses,” as applicable. The Acquired Fund Fees and Expenses disclosed above, however, do not reflect any performance-based fees or allocations paid by the Underlying Funds that are calculated solely on the realization and/or distribution of gains, or on the sum of such gains and unrealized appreciation of assets distributed in-kind, as such fees and allocations for a particular period may be unrelated to the cost of investing in the Underlying Funds. Future Underlying Funds’ fees and expenses may be substantially higher or lower because certain fees may be based on the performance of the Underlying Funds, which may fluctuate over time. Acquired Fund Fees and Expenses are borne indirectly by the Fund, but they will not be reflected in the Fund’s financial statements; and the information presented in the table will differ from that presented in the Fund’s financial highlights. The 1.36% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds and transaction-related fees. Certain Underlying Funds in which the Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included in “Acquired Fund Fees and Expenses,” as applicable. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold">Quarter Ended</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market Price(1)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NAV(2)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Market Premium (Discount) to NAV(3)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">High</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Low</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market High</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market Low</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market High</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market Low</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="width: 6%; text-align: left">2026</td><td style="width: 1%; font-weight: bold"> </td> <td style="font-weight: bold; width: 15%">June 30</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecef--HighestPriceOrBid_pid_uUSDPShares_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zfrPk2gTzb25" style="width: 10%; text-align: right">11.85</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecef--LowestPriceOrBid_pid_uUSDPShares_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zvmf473Hz2ql" style="width: 10%; text-align: right">11.28</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_z23Vh6MEWKGl" style="width: 10%; text-align: right">12.25</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_z4Srb2sutNpa" style="width: 10%; text-align: right">11.89</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zr2Soo2NAgN6" style="width: 10%; text-align: right">-3.27</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20260401__20260630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zx4SPx4T5awl" style="width: 10%; text-align: right">-5.13</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">March 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--HighestPriceOrBid_pid_uUSDPShares_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zbNghvIsIah1" style="text-align: right">12.11</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecef--LowestPriceOrBid_pid_uUSDPShares_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zchkaFcXM21" style="text-align: right">11.01</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zEHaNdJ708Rd" style="text-align: right">12.66</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zBRBb4exwkJd" style="text-align: right">12.15</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zxpoitk8X1De" style="text-align: right">-4.34</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zxyne11DFSTl" style="text-align: right">-5.74</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">2025</td><td style="font-weight: bold"> </td> <td style="font-weight: bold">December 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--HighestPriceOrBid_pid_uUSDPShares_c20251001__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zhDK1qdj8Thj" style="text-align: right">11.98</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--LowestPriceOrBid_pid_uUSDPShares_c20251001__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zQ8Zk80MMuJ3" style="text-align: right">11.14</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20251001__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zFlZYQlDQAUj" style="text-align: right">12.99</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20251001__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zax78xXxnIUf" style="text-align: right">12.37</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20251001__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zNghBNrJVmbl" style="text-align: right">-7.78</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20251001__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zzq3H0qAVwbd" style="text-align: right">-9.92</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">September 30</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecef--HighestPriceOrBid_pid_uUSDPShares_c20250701__20250930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_z68ZoiF43vv2" style="text-align: right">12.50</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecef--LowestPriceOrBid_pid_uUSDPShares_c20250701__20250930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zjqQaUvc5eVl" style="text-align: right">11.93</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20250701__20250930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zNlFppWywaQ6" style="text-align: right">12.67</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20250701__20250930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zTJebNdp3dud" style="text-align: right">12.84</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20250701__20250930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zgYjAYmulLsl" style="text-align: right">-1.34</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20250701__20250930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zonbDJvuSIxi" style="text-align: right">-7.09</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">June 30</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--HighestPriceOrBid_pid_uUSDPShares_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zMkHcaM7yLYk" style="text-align: right">12.26</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--LowestPriceOrBid_pid_uUSDPShares_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zXUhrfIMfg2g" style="text-align: right">10.42</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zfoUtt2WXOnk" style="text-align: right">12.51</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zNnrrkinIuEh" style="text-align: right">11.38</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zhNhmelmvkpj" style="text-align: right">-2.00</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20250401__20250630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zycZVKqtvFNl" style="text-align: right">-8.44</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">March 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--HighestPriceOrBid_pid_uUSDPShares_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zhKbPOMd7ijb" style="text-align: right">12.49</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecef--LowestPriceOrBid_pid_uUSDPShares_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zny8zcfQTCDi" style="text-align: right">11.64</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zMQ2HiVDe8b4" style="text-align: right">12.69</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zenpywLFTLXg" style="text-align: right">12.15</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zqrvqNi9J3ge" style="text-align: right">-1.58</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zH9ufdg8DtXf" style="text-align: right">-4.20</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left">2024</td><td style="font-weight: bold"> </td> <td style="font-weight: bold">December 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecef--HighestPriceOrBid_pid_uUSDPShares_c20241001__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zaESC6T4qF1j" style="text-align: right">12.95</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecef--LowestPriceOrBid_pid_uUSDPShares_c20241001__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zrj4J8TMf4a" style="text-align: right">11.48</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20241001__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zB6zsurQ65k1" style="text-align: right">12.77</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20241001__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zxyfXFzafft1" style="text-align: right">12.22</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20241001__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zxyKZ7MsPFyl" style="text-align: right">1.41</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20241001__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zBaEZqxURdY6" style="text-align: right">-6.06</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">September 30</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecef--HighestPriceOrBid_pid_uUSDPShares_c20240701__20240930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zYgYJtjJXjU7" style="text-align: right">12.92</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_ecef--LowestPriceOrBid_pid_uUSDPShares_c20240701__20240930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zcej5afJJU3i" style="text-align: right">11.81</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20240701__20240930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zWycmVAQGfk5" style="text-align: right">12.78</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20240701__20240930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zxzQjoh9jI9g" style="text-align: right">12.32</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20240701__20240930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zu9eRKl90Rm3" style="text-align: right">1.10</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20240701__20240930__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zJoySbhgzdh5" style="text-align: right">-4.14</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">June 30(4)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecef--HighestPriceOrBid_pid_uUSDPShares_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEpICg0KQ_____zrUVikRRDeda" style="text-align: right">12.32</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--LowestPriceOrBid_pid_uUSDPShares_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEpICg0KQ_____zrZTNh5nQQGb" style="text-align: right">11.94</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIpICg0KQ_____z2ABzJMFbGT8" style="text-align: right">12.66</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIpICg0KQ_____zGf4YUIHPU88" style="text-align: right">12.34</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMpICg0KQ_____zhYYiJIj742j" style="text-align: right">-2.69</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMpICg0KQ_____zKXaIPxWRDZ5" style="text-align: right">-3.24</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">April 30</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecef--HighestPriceOrBid_pid_uUSDPShares_c20240201__20240430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zd3Djzc6iVJe" style="text-align: right">12.09</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--LowestPriceOrBid_pid_uUSDPShares_c20240201__20240430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zTvjvFn1UJr" style="text-align: right">11.26</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20240201__20240430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zr5PUR1h2ukl" style="text-align: right">12.68</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20240201__20240430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zgqBUKidTxrl" style="text-align: right">12.14</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20240201__20240430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z3mIVfLNHck8" style="text-align: right">-4.65</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20240201__20240430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zZU139jNhbHi" style="text-align: right">-7.25</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">January 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecef--HighestPriceOrBid_pid_uUSDPShares_c20231101__20240131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zKOyhmkXJ0H1" style="text-align: right">11.55</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecef--LowestPriceOrBid_pid_uUSDPShares_c20231101__20240131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zGX6MmKKm4ze" style="text-align: right">9.94</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20231101__20240131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zaamrxjHGJoc" style="text-align: right">12.51</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20231101__20240131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_z72dSV9N4EN3" style="text-align: right">11.44</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20231101__20240131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zXWmG6vMXCE8" style="text-align: right">-7.67</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20231101__20240131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zQfwgYiMBKqb" style="text-align: right">-13.11</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td style="font-weight: bold"> </td> <td style="font-weight: bold">October 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecef--HighestPriceOrBid_pid_uUSDPShares_c20230801__20231031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zElGKCSIo4qi" style="text-align: right">11.51</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecef--LowestPriceOrBid_pid_uUSDPShares_c20230801__20231031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zSFwGyMXJ5de" style="text-align: right">9.67</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20230801__20231031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zvlvfAMRHQy7" style="text-align: right">12.28</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20230801__20231031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zEDT4FPNfdH5" style="text-align: right">11.27</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20230801__20231031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zUwahUGq6wt9" style="text-align: right">-6.27</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20230801__20231031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zE4doSEI4yif" style="text-align: right">-14.20</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">July 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--HighestPriceOrBid_pid_uUSDPShares_c20230501__20230731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zedgPY7YHT1d" style="text-align: right">11.51</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecef--LowestPriceOrBid_pid_uUSDPShares_c20230501__20230731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zOf7KDSXAUT7" style="text-align: right">10.96</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20230501__20230731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_z6TAsSpvUPZd" style="text-align: right">12.32</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20230501__20230731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zXqCMmAPPctl" style="text-align: right">12.23</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20230501__20230731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z77GQUoXb72i" style="text-align: right">-6.57</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20230501__20230731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zDrPAiQkZ8A8" style="text-align: right">-10.38</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">April 30</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecef--HighestPriceOrBid_pid_uUSDPShares_c20230201__20230430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zgoQyHPXuxpa" style="text-align: right">12.50</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--LowestPriceOrBid_pid_uUSDPShares_c20230201__20230430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_z0dfuOpRMgl6" style="text-align: right">10.89</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20230201__20230430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zOYREtMc2C0h" style="text-align: right">12.82</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20230201__20230430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zFTqTxrRmrF8" style="text-align: right">12.24</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20230201__20230430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z3y2gCTMMHJe" style="text-align: right">-2.50</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20230201__20230430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zNRql8ekmK27" style="text-align: right">-11.03</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">January 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_ecef--HighestPriceOrBid_pid_uUSDPShares_c20221101__20230131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zSxTCNqTijs6" style="text-align: right">13.29</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecef--LowestPriceOrBid_pid_uUSDPShares_c20221101__20230131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zpoPZQdEDyDb" style="text-align: right">11.74</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20221101__20230131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zRaMcDkeSc99" style="text-align: right">12.73</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20221101__20230131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zm9rbHqi0Hha" style="text-align: right">12.30</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20221101__20230131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zwAlbRJ2C2ab" style="text-align: right">4.40</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20221101__20230131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z878itDB6f9d" style="text-align: right">-4.55</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2022</td><td style="font-weight: bold"> </td> <td style="font-weight: bold">October 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecef--HighestPriceOrBid_pid_uUSDPShares_c20220801__20221031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zFpDdL7Uqi7g" style="text-align: right">15.20</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--LowestPriceOrBid_pid_uUSDPShares_c20220801__20221031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_z9GoVmJQbtE7" style="text-align: right">11.85</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20220801__20221031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zYdbdu5g8pS4" style="text-align: right">13.82</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20220801__20221031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zWVPir8kqgXd" style="text-align: right">12.29</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20220801__20221031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zC7JcitRr9Ha" style="text-align: right">9.99</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20220801__20221031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z4VRe3qmH3T" style="text-align: right">-3.58</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">July 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--HighestPriceOrBid_pid_uUSDPShares_c20220501__20220731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zwbUM94vbPD9" style="text-align: right">15.10</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecef--LowestPriceOrBid_pid_uUSDPShares_c20220501__20220731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zvtX3nkG4D4g" style="text-align: right">12.56</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20220501__20220731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zdpWwbyw7yvi" style="text-align: right">14.06</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20220501__20220731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_z34wwVxuA4wb" style="text-align: right">13.01</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20220501__20220731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zZc7nWDX5oIk" style="text-align: right">7.40</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20220501__20220731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z7l9OukQ0Nof" style="text-align: right">-3.46</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">April 30</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecef--HighestPriceOrBid_pid_uUSDPShares_c20220201__20220430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_ziNqWQdR0zyd" style="text-align: right">16.68</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecef--LowestPriceOrBid_pid_uUSDPShares_c20220201__20220430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_z4avnMqW5rl9" style="text-align: right">14.78</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20220201__20220430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zsh6Uay9SCTg" style="text-align: right">15.87</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20220201__20220430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_ziLBs3MKBRwd" style="text-align: right">15.31</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20220201__20220430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z62fIDHxc2O5" style="text-align: right">5.10</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20220201__20220430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zqTYYRl3nJEc" style="text-align: right">-3.46</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">January 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecef--HighestPriceOrBid_pid_uUSDPShares_c20211101__20220131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zNMaRP2BIayb" style="text-align: right">17.69</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecef--LowestPriceOrBid_pid_uUSDPShares_c20211101__20220131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zsVGqJksJeFh" style="text-align: right">14.86</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20211101__20220131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_znnomILWlIW1" style="text-align: right">17.09</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20211101__20220131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zeQ3gEGsUOTk" style="text-align: right">15.64</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20211101__20220131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zsuLdK4a72Mh" style="text-align: right">3.51</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20211101__20220131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zBpsu92etBuj" style="text-align: right">-4.99</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold">October 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecef--HighestPriceOrBid_pid_uUSDPShares_c20210801__20211031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zfQtV9RJQavg" style="text-align: right">18.75</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecef--LowestPriceOrBid_pid_uUSDPShares_c20210801__20211031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zESz8F4jXVx8" style="text-align: right">16.71</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20210801__20211031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zqdbhuf2Oih2" style="text-align: right">17.12</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20210801__20211031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zupjt65zIDT4" style="text-align: right">16.87</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20210801__20211031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z0pPFS99P2M5" style="text-align: right">9.52</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20210801__20211031__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z03NNUDYFx49" style="text-align: right">-0.95</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">July 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecef--HighestPriceOrBid_pid_uUSDPShares_c20210501__20210731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zaRl6HkVwyu" style="text-align: right">18.75</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecef--LowestPriceOrBid_pid_uUSDPShares_c20210501__20210731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_z3K6takYLHz5" style="text-align: right">16.75</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20210501__20210731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zGFOpUJl3x2g" style="text-align: right">17.24</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20210501__20210731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zlgoaZcbPdV2" style="text-align: right">17.02</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20210501__20210731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zB6wrLpxeeFc" style="text-align: right">8.76</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20210501__20210731__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zyRGhhbRwDf5" style="text-align: right">-1.59</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">April 30</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--HighestPriceOrBid_pid_uUSDPShares_c20210201__20210430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zUevPqOWorqj" style="text-align: right">17.88</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecef--LowestPriceOrBid_pid_uUSDPShares_c20210201__20210430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zC5XwmMJd3Eg" style="text-align: right">16.71</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20210201__20210430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_z2s82J4OTCw5" style="text-align: right">17.23</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20210201__20210430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_znSpOUj1byQ3" style="text-align: right">16.61</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20210201__20210430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z7OLY39hU5l2" style="text-align: right">3.77</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20210201__20210430__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z9ILHEq7WNXf" style="text-align: right">0.60</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: Gainsboro"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold">January 31</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecef--HighestPriceOrBid_pid_uUSDPShares_c20201101__20210131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zgLEC9r9cPGc" style="text-align: right">17.07</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecef--LowestPriceOrBid_pid_uUSDPShares_c20201101__20210131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDEp_zxkZkVYxTr2k" style="text-align: right">13.81</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecef--HighestPriceOrBidNav_pid_uUSDPShares_c20201101__20210131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_zmiXYyGjGPf3" style="text-align: right">16.48</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecef--LowestPriceOrBidNav_pid_uUSDPShares_c20201101__20210131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDIp_z1G5LKuOgQO5" style="text-align: right">14.53</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20201101__20210131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_z7cpox50emq8" style="text-align: right">3.58</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_pid_dp_c20201101__20210131__us-gaap--StatementClassOfStockAxis__custom--CommonSharesMember_fKDMp_zT9wS5TmhwLe" style="text-align: right">-4.96</td><td style="white-space: nowrap; text-align: left">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 20pt">(1)</td> <td>Based on high and low closing market price for the respective quarter.</td></tr> <tr style="vertical-align: top"> <td>(2)</td> <td style="text-align: justify">Based on the NAV calculated on the day of the high and low closing market prices, as applicable, as of the close of regular trading on the NYSE (normally 4:00 p.m. Eastern Time). </td></tr> <tr style="vertical-align: top"> <td>(3)</td> <td>Calculated based on the information presented.</td></tr> <tr style="vertical-align: top"> <td>(4)</td> <td style="text-align: justify">For the fiscal quarter from May 1, 2024 to June 30, 2024 due to the change in the fiscal year end effective May 15, 2024.</td></tr> </table> 11.85 11.28 12.25 11.89 -0.0327 -0.0513 12.11 11.01 12.66 12.15 -0.0434 -0.0574 11.98 11.14 12.99 12.37 -0.0778 -0.0992 12.50 11.93 12.67 12.84 -0.0134 -0.0709 12.26 10.42 12.51 11.38 -0.0200 -0.0844 12.49 11.64 12.69 12.15 -0.0158 -0.0420 12.95 11.48 12.77 12.22 0.0141 -0.0606 12.92 11.81 12.78 12.32 0.0110 -0.0414 12.32 11.94 12.66 12.34 -0.0269 -0.0324 12.09 11.26 12.68 12.14 -0.0465 -0.0725 11.55 9.94 12.51 11.44 -0.0767 -0.1311 11.51 9.67 12.28 11.27 -0.0627 -0.1420 11.51 10.96 12.32 12.23 -0.0657 -0.1038 12.50 10.89 12.82 12.24 -0.0250 -0.1103 13.29 11.74 12.73 12.30 0.0440 -0.0455 15.20 11.85 13.82 12.29 0.0999 -0.0358 15.10 12.56 14.06 13.01 0.0740 -0.0346 16.68 14.78 15.87 15.31 0.0510 -0.0346 17.69 14.86 17.09 15.64 0.0351 -0.0499 18.75 16.71 17.12 16.87 0.0952 -0.0095 18.75 16.75 17.24 17.02 0.0876 -0.0159 17.88 16.71 17.23 16.61 0.0377 0.0060 17.07 13.81 16.48 14.53 0.0358 -0.0496

11.96

11.53

0.0360 The following table provides information about the Fund’s outstanding securities as of July 16, 2026: <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; width: 25%; text-align: center">(1)</td> <td style="border-top: Black 1pt solid; width: 25%; text-align: center">(2)</td> <td style="border-top: Black 1pt solid; width: 25%; text-align: center">(3)</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; width: 25%; text-align: center">(4)</td></tr> <tr style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; text-align: center">Title of Class</td> <td style="text-align: center">Amount Authorized</td> <td style="text-align: center">Amount Held by Fund or for its account</td> <td style="border-right: Black 1pt solid; text-align: center">Amount Outstanding Exclusive of Amount Shown under (3) As of July 16, 2026</td></tr> <tr style="vertical-align: top; background-color: Gainsboro"> <td style="border-left: Black 1pt solid; text-align: center">Common Stock</td> <td style="text-align: center">33,590,000</td> <td style="text-align: center">None</td> <td style="border-right: Black 1pt solid; text-align: center">21,371,263</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">Series A Preferred Stock</td> <td style="border-bottom: Black 1pt solid; text-align: center">3,910,000</td> <td style="border-bottom: Black 1pt solid; text-align: center">None</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">3,910,000</td></tr> </table> Common Stock 33590000 0 21371263 Series A Preferred Stock 3910000 0 3910000 Represents the estimated commission and offering costs with respect to the Common Shares being sold under this Prospectus Supplement and the accompanying Prospectus. There is no guarantee that there will be any sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus. Actual sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per Common Share of any such sale may be greater or less than the price set forth under “Capitalization” below, depending on market price of the Common Shares at the time of any such sale. There will be no brokerage charges with respect to Common Shares issued directly by the Fund under the dividend reinvestment plan. You will pay brokerage charges in connection with open market purchases or if you direct the plan agent to sell your Common Shares held in a dividend reinvestment account. The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. With leverage, Managed Assets are greater in amount than net assets, because Managed Assets include assets attributable to the Fund’s use of leverage created by its borrowings. In addition, the mark-to-market value of the Fund’s derivatives will be used for purposes of calculating Managed Assets. The management fee of 1.30% of the Fund’s Managed Assets represents 1.72% of net assets attributable to Common Shares assuming the use of leverage in an amount of 23.89% of the Fund’s Managed Assets. “Leverage costs” are estimated to reflect actual leverage outstanding as of December 31, 2025 and estimated interest and associated costs. Actual leverage costs incurred in the future may be higher or lower as the actual amount of interest expense borne by the Fund will vary over time in accordance with the level of the Fund’s use of leverage and variations in market interest rates. See “Use of Leverage” in the accompanying Prospectus. As of December 31, 2025, the Fund has issued 3,910,000 shares of 6.00% Series A Preferred Stock The “Acquired Fund Fees and Expenses” disclosed above are based on the expense ratios for the most recent fiscal year of the Underlying Funds in which the Fund anticipates investing, which may change substantially over time and, therefore, significantly affect Acquired Fund Fees and Expenses. These amounts are based on the total expense ratio disclosed in each Underlying Fund’s most recent stockholder report. Some of the Underlying Funds in which the Fund intends to invest charge incentive fees based on the Underlying Funds’ performance. The 1.36% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds and transaction-related fees. Certain Underlying Funds in which the Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included in “Acquired Fund Fees and Expenses,” as applicable. The Acquired Fund Fees and Expenses disclosed above, however, do not reflect any performance-based fees or allocations paid by the Underlying Funds that are calculated solely on the realization and/or distribution of gains, or on the sum of such gains and unrealized appreciation of assets distributed in-kind, as such fees and allocations for a particular period may be unrelated to the cost of investing in the Underlying Funds. Future Underlying Funds’ fees and expenses may be substantially higher or lower because certain fees may be based on the performance of the Underlying Funds, which may fluctuate over time. Acquired Fund Fees and Expenses are borne indirectly by the Fund, but they will not be reflected in the Fund’s financial statements; and the information presented in the table will differ from that presented in the Fund’s financial highlights. The example should not be considered a representation of future expenses. The example assumes that the estimated “Other Expenses” set forth in the table are accurate and that all dividends and distributions are reinvested at net asset value and that the Fund is engaged in leverage of 23.89% of Managed Assets. Actual expenses may be greater or less than those shown. Moreover, the Fund’s actual rate of return may be greater or less than the hypothetical 5% annual return shown in the example. Based on high and low closing market price for the respective quarter. For the fiscal quarter from May 1, 2024 to June 30, 2024 due to the change in the fiscal year end effective May 15, 2024. Based on the NAV calculated on the day of the high and low closing market prices, as applicable, as of the close of regular trading on the NYSE (normally 4:00 p.m. Eastern Time). Calculated based on the information presented.