RiverNorth Opportunities Fund, Inc. (NYSE:RIV – Get Free Report) announced a monthly dividend on Wednesday, July 1st. Investors of record on Friday, August 14th will be given a dividend of 0.1306 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 13.4%. The ex-dividend date is Friday, August 14th.
RiverNorth Opportunities Fund Stock Performance
NYSE RIV opened at $11.71 on Friday. RiverNorth Opportunities Fund has a one year low of $10.93 and a one year high of $12.56. The company’s 50 day moving average price is $11.59 and its 200 day moving average price is $11.66.
Hedge Funds Weigh In On RiverNorth Opportunities Fund
Several hedge funds and other institutional investors have recently made changes to their positions in RIV. Sit Investment Associates Inc. boosted its position in 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 RiverNorth Opportunities Fund in the fourth quarter valued at about $5,244,000. Arete Wealth Advisors LLC lifted its stake in shares of RiverNorth Opportunities Fund by 15.9% during the first 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 in the last quarter. Absolute Investment Advisers LLC acquired a new position in shares of RiverNorth Opportunities Fund during the fourth quarter worth about $4,559,000. Finally, Bank of America Corp DE boosted its position in shares of RiverNorth Opportunities Fund by 3.5% in the first quarter. Bank of America Corp DE now owns 322,246 shares of the company’s stock worth $3,577,000 after buying an additional 10,785 shares during the period.
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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