RiverNorth Opportunities Fund (NYSE:RIV) Shares Down 0.3% – Here’s Why

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was down 0.3% during mid-day trading on Monday . The stock traded as low as $12.00 and last traded at $12.0650. Approximately 50,027 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 109,651 shares. The stock had previously closed at $12.10.

RiverNorth Opportunities Fund Price Performance

The business’s 50-day moving average price is $11.85 and its 200 day moving average price is $11.93.

RiverNorth Opportunities Fund Dividend Announcement

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

Institutional Investors Weigh In On RiverNorth Opportunities Fund

A number of institutional investors and hedge funds have recently made changes to their positions in RIV. Penserra Capital Management LLC grew its position in RiverNorth Opportunities Fund by 2.5% during the third quarter. Penserra Capital Management LLC now owns 603,150 shares of the company’s stock worth $7,237,000 after buying an additional 14,754 shares in the last quarter. Absolute Investment Advisers LLC purchased a new stake in shares of RiverNorth Opportunities Fund in the 4th quarter valued at about $4,559,000. Royal Bank of Canada boosted its position in shares of RiverNorth Opportunities Fund by 25.2% during the 1st quarter. Royal Bank of Canada now owns 199,111 shares of the company’s stock valued at $2,348,000 after acquiring an additional 40,031 shares during the last quarter. Tennessee Valley Asset Management Partners grew its holdings in shares of RiverNorth Opportunities Fund by 21.6% during the second quarter. Tennessee Valley Asset Management Partners now owns 137,601 shares of the company’s stock worth $1,687,000 after purchasing an additional 24,396 shares in the last quarter. Finally, Everstar Asset Management LLC grew its holdings in shares of RiverNorth Opportunities Fund by 7.8% during the fourth quarter. Everstar Asset Management LLC now owns 135,467 shares of the company’s stock worth $1,591,000 after purchasing an additional 9,798 shares in 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.