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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 118,157 shares, a growth of 20.3% from the January 15th total of 98,222 shares. Based on an average daily trading volume, of 116,552 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 116,552 shares, the short-interest ratio is currently 1.0 days.

RiverNorth Opportunities Fund Stock Up 0.3%

RiverNorth Opportunities Fund stock traded up $0.03 during mid-day trading on Tuesday, hitting $11.95. The company’s stock had a trading volume of 81,479 shares, compared to its average volume of 111,306. RiverNorth Opportunities Fund has a 52-week low of $10.11 and a 52-week high of $12.56. The firm’s 50 day moving average is $11.88 and its 200 day moving average is $11.92.

RiverNorth Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.1306 per share. This represents a c) annualized dividend and a dividend yield of 13.1%. The ex-dividend date is Monday, March 16th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. boosted its stake in shares of RiverNorth Opportunities Fund by 1.7% during the 2nd quarter. Raymond James Financial Inc. now owns 63,215 shares of the company’s stock valued at $775,000 after buying an additional 1,047 shares during the period. NewEdge Advisors LLC raised its holdings in shares of RiverNorth Opportunities Fund by 5.9% during the third quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock worth $236,000 after acquiring an additional 1,100 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in RiverNorth Opportunities Fund by 2.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 51,569 shares of the company’s stock valued at $605,000 after purchasing an additional 1,304 shares during the last quarter. Wedbush Securities Inc. boosted its position in RiverNorth Opportunities Fund by 6.3% during 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 during the last quarter. Finally, Everstar Asset Management LLC grew its stake in RiverNorth Opportunities Fund by 7.8% in the fourth quarter. Everstar Asset Management LLC now owns 135,467 shares of the company’s stock valued at $1,591,000 after purchasing an additional 9,798 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.