Kovack Advisors Inc. Makes New Investment in RiverNorth Opportunities Fund, Inc. $RIV

Kovack Advisors Inc. purchased a new position in shares of RiverNorth Opportunities Fund, Inc. (NYSE:RIV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,285 shares of the company’s stock, valued at approximately $469,000.

Several other hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in RiverNorth Opportunities Fund by 11.5% in the first quarter. Envestnet Asset Management Inc. now owns 192,912 shares of the company’s stock valued at $2,274,000 after purchasing an additional 19,956 shares during the last quarter. LPL Financial LLC boosted its stake in RiverNorth Opportunities Fund by 4.9% in the 1st quarter. LPL Financial LLC now owns 426,391 shares of the company’s stock worth $5,027,000 after buying an additional 19,743 shares during the last quarter. Truvestments Capital LLC purchased a new stake in RiverNorth Opportunities Fund in the 1st quarter valued at about $108,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of RiverNorth Opportunities Fund during the 2nd quarter valued at about $40,000. Finally, Sheaff Brock Investment Advisors LLC increased its stake in shares of RiverNorth Opportunities Fund by 4.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,680 shares of the company’s stock valued at $527,000 after acquiring an additional 1,900 shares during the last quarter.

RiverNorth Opportunities Fund Price Performance

RIV opened at $11.66 on Friday. RiverNorth Opportunities Fund, Inc. has a 1 year low of $10.11 and a 1 year high of $12.79. The company’s 50 day simple moving average is $12.02 and its 200 day simple moving average is $12.02.

RiverNorth Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.1277 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date is Monday, December 15th.

RiverNorth Opportunities Fund Company Profile

RiverNorth Opportunities Fund, Inc is a close ended equity mutual fund co- launched and co- managed by ALPS Advisors, Inc and RiverNorth Capital Management, LLC. It invests in the equity markets. The fund seeks to invest in stocks of companies operating across the diversified sectors. RiverNorth Opportunities Fund, Inc was formed on December 24, 2015 and is domiciled in the United States.