RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Update

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 76,800 shares, a drop of 53.5% from the August 15th total of 165,300 shares. Based on an average daily volume of 96,100 shares, the days-to-cover ratio is presently 0.8 days.

RiverNorth Opportunities Fund Trading Up 0.3 %

RiverNorth Opportunities Fund stock traded up $0.04 during midday trading on Friday, reaching $12.44. 19,589 shares of the company were exchanged, compared to its average volume of 83,797. The firm’s 50-day simple moving average is $12.31 and its 200-day simple moving average is $12.08. RiverNorth Opportunities Fund has a 1 year low of $9.63 and a 1 year high of $12.53.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.1289 dividend. This represents a $1.55 annualized dividend and a yield of 12.43%. The ex-dividend date of this dividend is Friday, September 13th.

Institutional Trading of RiverNorth Opportunities Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIV. National Bank of Canada FI purchased a new stake in RiverNorth Opportunities Fund in the 4th quarter valued at about $29,000. BlackDiamond Wealth Management LLC purchased a new stake in shares of RiverNorth Opportunities Fund during the 4th quarter worth about $337,000. Sheaff Brock Investment Advisors LLC grew its holdings in shares of RiverNorth Opportunities Fund by 40.4% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 33,000 shares of the company’s stock worth $363,000 after purchasing an additional 9,500 shares during the period. Calamos Advisors LLC grew its holdings in shares of RiverNorth Opportunities Fund by 27.6% during the 2nd quarter. Calamos Advisors LLC now owns 30,271 shares of the company’s stock worth $371,000 after purchasing an additional 6,549 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of RiverNorth Opportunities Fund by 6.9% during the 1st quarter. Private Advisor Group LLC now owns 31,450 shares of the company’s stock worth $379,000 after purchasing an additional 2,034 shares during the period.

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.