Yakira Capital Management Inc. Purchases Shares of 446,668 RiverNorth Opportunities Fund, Inc. $RIV

Yakira Capital Management Inc. purchased a new stake in RiverNorth Opportunities Fund, Inc. (NYSE:RIV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 446,668 shares of the company’s stock, valued at approximately $5,244,000. RiverNorth Opportunities Fund makes up about 1.8% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Arete Wealth Advisors LLC purchased a new stake in shares of RiverNorth Opportunities Fund in the fourth quarter valued at about $4,428,000. Quarry LP lifted its holdings in shares of RiverNorth Opportunities Fund by 96.9% in the fourth quarter. Quarry LP now owns 153,570 shares of the company’s stock valued at $1,803,000 after purchasing an additional 75,570 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of 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 purchasing an additional 1,579 shares in the last quarter. Sit Investment Associates Inc. lifted its holdings in shares of RiverNorth Opportunities Fund by 1,374.7% in the fourth quarter. Sit Investment Associates Inc. now owns 2,771,040 shares of the company’s stock valued at $32,532,000 after purchasing an additional 2,583,139 shares in the last quarter. Finally, Kovack Advisors Inc. purchased a new stake in shares of RiverNorth Opportunities Fund in the fourth quarter valued at about $441,000.

RiverNorth Opportunities Fund Stock Up 0.1%

Shares of NYSE RIV opened at $11.60 on Monday. RiverNorth Opportunities Fund, Inc. has a 12-month low of $10.93 and a 12-month high of $12.56. The firm’s 50-day moving average is $11.57 and its two-hundred day moving average is $11.68.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.1306 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 13.5%.

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.