RiverNorth Opportunities Fund, Inc. (NYSE:RIV – Get Free Report) declared a monthly dividend on Wednesday, July 1st. Stockholders of record on Wednesday, July 15th will be paid a dividend of 0.1306 per share on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 13.3%. The ex-dividend date is Wednesday, July 15th.
RiverNorth Opportunities Fund Stock Performance
Shares of RIV traded up $0.11 on Thursday, reaching $11.75. The company’s stock had a trading volume of 6,710 shares, compared to its average volume of 82,297. The stock’s 50 day simple moving average is $11.59 and its two-hundred day simple moving average is $11.67. RiverNorth Opportunities Fund has a 12-month low of $10.93 and a 12-month high of $12.56.
Institutional Investors Weigh In On RiverNorth Opportunities Fund
A number of hedge funds have recently modified their holdings of RIV. Arete Wealth Advisors LLC raised its holdings in RiverNorth Opportunities Fund by 15.9% in 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. Bank of America Corp DE lifted its position in RiverNorth Opportunities Fund by 3.5% during the first quarter. Bank of America Corp DE now owns 322,246 shares of the company’s stock valued at $3,577,000 after purchasing an additional 10,785 shares in the last quarter. Royal Bank of Canada grew its holdings in RiverNorth Opportunities Fund by 3.6% during the first quarter. Royal Bank of Canada now owns 205,141 shares of the company’s stock valued at $2,277,000 after purchasing an additional 7,216 shares during the period. Gateway Wealth Partners LLC grew its holdings in RiverNorth Opportunities Fund by 158.5% during the first quarter. Gateway Wealth Partners LLC now owns 26,166 shares of the company’s stock valued at $290,000 after purchasing an additional 16,043 shares during the period. Finally, WealthTrust Asset Management LLC increased its position in RiverNorth Opportunities Fund by 13.7% in the first quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock worth $168,000 after buying an additional 1,821 shares in the last quarter.
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.
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