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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a large 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 days-to-cover ratio is presently 5.3 days.

RiverNorth Opportunities Fund Stock Performance

RiverNorth Opportunities Fund stock traded down $0.06 during trading hours on Thursday, reaching $10.75. 132,659 shares of the company’s stock traded hands, 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 firm’s 50 day moving average is $11.28 and its 200-day moving average is $11.45.

RiverNorth Opportunities Fund Dividend Announcement

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

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Several large investors have recently bought and sold shares of the business. Allworth Financial LP grew its holdings in RiverNorth Opportunities Fund by 2.2% during the 2nd quarter. Allworth Financial LP now owns 66,047 shares of the company’s stock worth $770,000 after acquiring an additional 1,419 shares during the period. Advisory Solutions Group LLC acquired a new position in shares of RiverNorth Opportunities Fund in the 2nd quarter valued at $985,000. Bank of America Corp DE acquired a new position in shares of RiverNorth Opportunities Fund in the 2nd quarter valued at $3,869,000. BlackRock Inc. acquired a new position in shares of RiverNorth Opportunities Fund in the 2nd quarter valued at $179,000. Finally, Alterna Wealth Management Inc. bought a new position in shares of RiverNorth Opportunities Fund in the 2nd quarter worth $128,000.

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.