RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Down 20.7% in October

by · The Markets Daily

RiverNorth Opportunities Fund, Inc. (NYSE:RIV – Get Free Report) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 63,900 shares, a decline of 20.7% from the October 15th total of 80,600 shares. Based on an average daily trading volume, of 74,300 shares, the days-to-cover ratio is presently 0.9 days.

RiverNorth Opportunities Fund Stock Performance

Shares of NYSE:RIV traded down $0.11 during midday trading on Friday, reaching $12.40. The company’s stock had a trading volume of 55,167 shares, compared to its average volume of 81,608. RiverNorth Opportunities Fund has a fifty-two week low of $10.34 and a fifty-two week high of $12.96. The business’s fifty day simple moving average is $12.62 and its 200-day simple moving average is $12.35.

RiverNorth Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.1289 per share. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 12.48%.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

A number of hedge funds have recently made changes to their positions in RIV. Penserra Capital Management LLC bought a new stake in RiverNorth Opportunities Fund during the third quarter valued at $7,864,000. B. Riley Wealth Advisors Inc. raised its stake in RiverNorth Opportunities Fund by 28.3% during the second quarter. B. Riley Wealth Advisors Inc. now owns 248,240 shares of the company’s stock valued at $3,043,000 after buying an additional 54,790 shares during the last quarter. Tennessee Valley Asset Management Partners grew its holdings in shares of RiverNorth Opportunities Fund by 1.5% during the second quarter. Tennessee Valley Asset Management Partners now owns 97,202 shares of the company’s stock valued at $1,191,000 after buying an additional 1,402 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in RiverNorth Opportunities Fund by 1.4% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 89,676 shares of the company’s stock valued at $1,099,000 after acquiring an additional 1,226 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of RiverNorth Opportunities Fund during the 3rd quarter valued at about $568,000.

About RiverNorth Opportunities Fund

(Get Free Report)

RiverNorth Opportunities Fund, Inc is a close ended equity mutual fund co- launched and co- managed by ALPS Advisors, Inc and RiverNorth Capital Management, LLC. It invests in the equity markets. The fund seeks to invest in stocks of companies operating across the diversified sectors. RiverNorth Opportunities Fund, Inc was formed on December 24, 2015 and is domiciled in the United States.

See Also