RiverNorth Opportunities Fund (NYSE:RIV) Stock Price Down 1.3% – What’s Next?

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) shares were down 1.3% during mid-day trading on Thursday . The stock traded as low as $11.25 and last traded at $11.2710. 54,822 shares changed hands during trading, a decline of 33% from the average daily volume of 82,383 shares. The stock had previously closed at $11.42.

RiverNorth Opportunities Fund Stock Down 0.4%

The firm has a fifty day moving average of $11.54 and a 200-day moving average of $11.64.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.1306 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 14.0%.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

Institutional investors have recently modified their holdings of the business. Gateway Wealth Partners LLC bought a new stake in shares of RiverNorth Opportunities Fund during the fourth quarter worth approximately $119,000. Alterna Wealth Management Inc. bought a new position in RiverNorth Opportunities Fund in the second quarter valued at approximately $128,000. CIBC Bancorp USA Inc. acquired a new stake in RiverNorth Opportunities Fund during the 3rd quarter worth $136,000. WealthTrust Asset Management LLC grew its holdings in RiverNorth Opportunities Fund by 13.7% during the 1st quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock worth $168,000 after acquiring an additional 1,821 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of RiverNorth Opportunities Fund by 5.9% during the 3rd quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock valued at $236,000 after acquiring an additional 1,100 shares during 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.