RiverNorth Opportunities Fund, Inc. (NYSE:RIV) to Issue $0.13 Monthly Dividend

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) announced a monthly dividend on Friday, January 2nd. Stockholders of record on Friday, February 13th will be given a dividend of 0.1306 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 13.0%. The ex-dividend date of this dividend is Friday, February 13th.

RiverNorth Opportunities Fund Price Performance

Shares of NYSE:RIV traded down $0.02 during midday trading on Wednesday, reaching $12.10. The company’s stock had a trading volume of 47,844 shares, compared to its average volume of 107,876. The business has a 50 day moving average price of $11.86 and a 200 day moving average price of $11.93. RiverNorth Opportunities Fund has a 1 year low of $10.11 and a 1 year high of $12.56.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. grew its stake in shares of RiverNorth Opportunities Fund by 1.7% during the 2nd quarter. Raymond James Financial Inc. now owns 63,215 shares of the company’s stock valued at $775,000 after buying an additional 1,047 shares during the period. NewEdge Advisors LLC boosted its holdings in RiverNorth Opportunities Fund by 5.9% in the third quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock valued at $236,000 after acquiring an additional 1,100 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in RiverNorth Opportunities Fund by 2.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 51,569 shares of the company’s stock valued at $605,000 after acquiring an additional 1,304 shares during the period. Everstar Asset Management LLC grew its position in RiverNorth Opportunities Fund by 7.8% during the fourth quarter. Everstar Asset Management LLC now owns 135,467 shares of the company’s stock valued at $1,591,000 after acquiring an additional 9,798 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in RiverNorth Opportunities Fund during the third quarter worth about $136,000.

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.