RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Sees Significant Decrease in Short Interest

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 96,667 shares, a decline of 28.9% from the December 15th total of 136,018 shares. Based on an average trading volume of 78,625 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 78,625 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RIV. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of RiverNorth Opportunities Fund in the 2nd quarter worth approximately $40,000. CIBC Bancorp USA Inc. bought a new stake in RiverNorth Opportunities Fund during the third quarter worth approximately $136,000. Tactive Advisors LLC acquired a new position in RiverNorth Opportunities Fund in the fourth quarter worth approximately $140,000. NewEdge Advisors LLC grew its position in RiverNorth Opportunities Fund by 5.9% in the third quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock worth $236,000 after buying an additional 1,100 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of RiverNorth Opportunities Fund in the second quarter valued at $265,000.

RiverNorth Opportunities Fund Stock Up 0.0%

Shares of NYSE:RIV traded up $0.01 during trading on Monday, hitting $11.91. 163,155 shares of the company traded hands, compared to its average volume of 110,178. The business’s fifty day moving average is $11.70 and its 200-day moving average is $11.96. RiverNorth Opportunities Fund has a one year low of $10.11 and a one year high of $12.56.

RiverNorth Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.1306 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Monday, March 16th.

About RiverNorth Opportunities Fund

RiverNorth Opportunities Fund (NYSE:RIV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. Listed on the New York Stock Exchange, the fund employs an unconstrained, actively managed approach to investing across a broad array of convertible and derivative securities.

The fund’s primary investments include convertible bonds, convertible preferred stocks, synthetic convertible instruments (such as caps, floors and spreads), and related derivative instruments.