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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the target of a significant 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 trading volume of 72,284 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 72,284 shares, the short-interest ratio is presently 0.8 days.

RiverNorth Opportunities Fund Price Performance

RIV opened at $11.48 on Wednesday. RiverNorth Opportunities Fund has a 12 month low of $10.11 and a 12 month high of $12.56. The business has a fifty day moving average price of $11.92 and a 200 day moving average price of $11.87.

RiverNorth Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.1306 dividend. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date is Monday, March 16th.

Institutional Trading of RiverNorth Opportunities Fund

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in RiverNorth Opportunities Fund during the 2nd quarter worth approximately $577,000. Everstar Asset Management LLC raised its holdings in shares of RiverNorth Opportunities Fund by 11.4% in the 2nd quarter. Everstar Asset Management LLC now owns 103,746 shares of the company’s stock valued at $1,272,000 after purchasing an additional 10,592 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of RiverNorth Opportunities Fund during the 4th quarter worth $2,285,000. Quarry LP purchased a new stake in shares of RiverNorth Opportunities Fund during the 3rd quarter worth $936,000. Finally, Bank of America Corp DE grew its stake in shares of RiverNorth Opportunities Fund by 89.7% during the second quarter. Bank of America Corp DE now owns 47,442 shares of the company’s stock worth $582,000 after purchasing an additional 22,431 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.