RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Update

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,261,553 shares, a growth of 1,368.7% from the August 15th total of 85,898 shares. Based on an average daily volume of 237,470 shares, the short-interest ratio is currently 5.3 days.

RiverNorth Opportunities Fund Stock Performance

Shares of NYSE:RIV traded down $0.06 during midday trading on Thursday, reaching $10.75. The company’s stock had a trading volume of 132,659 shares, compared to its average volume of 96,400. RiverNorth Opportunities Fund has a fifty-two week low of $10.69 and a fifty-two week high of $12.36. The business’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $11.45.

RiverNorth Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.1306 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 14.6%.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gateway Wealth Partners LLC acquired a new position in shares of RiverNorth Opportunities Fund during the fourth quarter worth approximately $119,000. Alterna Wealth Management Inc. acquired a new stake in shares of RiverNorth Opportunities Fund in the second quarter valued at approximately $128,000. CIBC Bancorp USA Inc. acquired a new stake in shares of RiverNorth Opportunities Fund in the third quarter valued at approximately $136,000. WealthTrust Asset Management LLC raised its position in RiverNorth Opportunities Fund by 13.7% in the 1st quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock worth $168,000 after purchasing an additional 1,821 shares during the last quarter. Finally, BlackRock Inc. bought a new position in RiverNorth Opportunities Fund in the 2nd quarter worth approximately $179,000.

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.