RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Sees Large Decline in Short Interest

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 54,819 shares, a drop of 67.8% from the February 12th total of 170,120 shares. Based on an average daily volume of 72,284 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 72,284 shares, the short-interest ratio is currently 0.8 days.

RiverNorth Opportunities Fund Price Performance

Shares of RiverNorth Opportunities Fund stock traded up $0.02 during trading hours on Friday, reaching $11.35. 140,970 shares of the company’s stock were exchanged, compared to its average volume of 101,732. The business has a fifty day moving average of $11.90 and a two-hundred day moving average of $11.85. RiverNorth Opportunities Fund has a 1 year low of $10.11 and a 1 year high of $12.56.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.1306 dividend. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 13.8%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RIV. Gateway Wealth Partners LLC purchased a new stake in RiverNorth Opportunities Fund in the fourth quarter valued at $119,000. CIBC Bancorp USA Inc. purchased a new position in shares of RiverNorth Opportunities Fund during the 3rd quarter worth $136,000. Tactive Advisors LLC acquired a new stake in shares of RiverNorth Opportunities Fund during the 4th quarter worth about $140,000. NewEdge Advisors LLC raised its holdings in RiverNorth Opportunities Fund by 5.9% in the 3rd quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock valued at $236,000 after buying an additional 1,100 shares during the period. Finally, Wedbush Securities Inc. lifted its position in RiverNorth Opportunities Fund by 6.3% in the fourth quarter. Wedbush Securities Inc. now owns 26,489 shares of the company’s stock valued at $311,000 after buying an additional 1,579 shares during 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.