RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Up 44.0% in February

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 170,120 shares, a growth of 44.0% from the January 29th total of 118,157 shares. Based on an average daily volume of 116,496 shares, the short-interest ratio is presently 1.5 days. Based on an average daily volume of 116,496 shares, the short-interest ratio is presently 1.5 days.

RiverNorth Opportunities Fund Stock Performance

Shares of RIV traded down $0.03 during trading hours on Friday, hitting $12.02. The stock had a trading volume of 124,480 shares, compared to its average volume of 103,297. The firm has a 50 day simple moving average of $11.92 and a 200-day simple moving average of $11.90. RiverNorth Opportunities Fund has a 1-year low of $10.11 and a 1-year high of $12.56.

RiverNorth Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.1306 dividend. This represents a c) dividend on an annualized basis and a yield of 13.0%. The ex-dividend date of this dividend is Monday, March 16th.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

A number of institutional investors have recently modified their holdings of RIV. Readystate Asset Management LP acquired a new stake in RiverNorth Opportunities Fund in the 4th quarter valued at $2,285,000. Kovack Advisors Inc. acquired a new position in RiverNorth Opportunities Fund during the fourth quarter worth $439,000. Yakira Capital Management Inc. bought a new position in shares of RiverNorth Opportunities Fund in the fourth quarter valued at $5,244,000. Arete Wealth Advisors LLC bought a new position in shares of RiverNorth Opportunities Fund in the fourth quarter valued at $4,428,000. Finally, Quarry LP grew its holdings in shares of RiverNorth Opportunities Fund by 96.9% during the fourth quarter. Quarry LP now owns 153,570 shares of the company’s stock valued at $1,803,000 after buying an additional 75,570 shares during the last quarter.

RiverNorth Opportunities Fund Company Profile

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.