RiverNorth Opportunities Fund (NYSE:RIV) Trading Down 0.7% – What’s Next?

RiverNorth Opportunities Fund, Inc. (NYSE:RIV – Get Free Report) shares traded down 0.7% on Wednesday . The company traded as low as $11.30 and last traded at $11.33. 83,943 shares were traded during mid-day trading, a decline of 1% from the average session volume of 84,746 shares. The stock had previously closed at $11.41.

RiverNorth Opportunities Fund Stock Down 0.7%

The stock’s 50 day simple moving average is $11.56 and its two-hundred day simple moving average is $11.68.

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RiverNorth Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.1306 per share. This represents a c) annualized dividend and a dividend yield of 13.8%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Hedge funds have recently modified their holdings of the business. Sit Investment Associates Inc. grew its holdings in shares of RiverNorth Opportunities Fund by 1,374.7% during the 4th quarter. Sit Investment Associates Inc. now owns 2,771,040 shares of the company’s stock worth $32,532,000 after purchasing an additional 2,583,139 shares during the period. Yakira Capital Management Inc. purchased a new position in shares of RiverNorth Opportunities Fund during the 4th quarter worth $5,244,000. Arete Wealth Advisors LLC grew its holdings in shares of RiverNorth Opportunities Fund by 15.9% during the 1st quarter. Arete Wealth Advisors LLC now owns 437,265 shares of the company’s stock worth $4,867,000 after purchasing an additional 60,096 shares during the period. Absolute Investment Advisers LLC purchased a new position in shares of RiverNorth Opportunities Fund during the 4th quarter worth $4,559,000. Finally, Bank of America Corp DE grew its holdings in shares of RiverNorth Opportunities Fund by 3.5% during the 1st quarter. Bank of America Corp DE now owns 322,246 shares of the company’s stock worth $3,577,000 after purchasing an additional 10,785 shares during the period.

About RiverNorth Opportunities Fund

(Get Free Report)

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.

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