Tennessee Valley Asset Management Partners Reduces Stock Position in RiverNorth Opportunities Fund, Inc. $RIV

Tennessee Valley Asset Management Partners trimmed its position in RiverNorth Opportunities Fund, Inc. (NYSE:RIV) by 50.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,835 shares of the company’s stock after selling 138,118 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in RiverNorth Opportunities Fund were worth $1,618,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RIV. Absolute Investment Advisers LLC purchased a new stake in shares of RiverNorth Opportunities Fund in the 4th quarter worth $4,559,000. Nomura Holdings Inc. purchased a new stake in shares of RiverNorth Opportunities Fund in the 3rd quarter worth $1,200,000. Quarry LP purchased a new stake in shares of RiverNorth Opportunities Fund in the 3rd quarter worth $936,000. Royal Bank of Canada lifted its holdings in shares of RiverNorth Opportunities Fund by 25.2% in the 1st quarter. Royal Bank of Canada now owns 199,111 shares of the company’s stock worth $2,348,000 after buying an additional 40,031 shares during the period. Finally, Shaker Financial Services LLC purchased a new stake in shares of RiverNorth Opportunities Fund in the 4th quarter worth $452,000.

RiverNorth Opportunities Fund Trading Down 2.0%

Shares of RIV stock opened at $11.48 on Friday. RiverNorth Opportunities Fund, Inc. has a twelve month low of $10.93 and a twelve month high of $12.56. The stock has a fifty day simple moving average of $11.48 and a two-hundred day simple moving average of $11.68.

RiverNorth Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.1306 dividend. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date is Monday, June 15th.

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.