RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Down 67.8% in February
by Amy Steele · The Cerbat GemRiverNorth Opportunities Fund, Inc. (NYSE:RIV – Get Free Report) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 54,819 shares, a drop of 67.8% from the February 12th total of 170,120 shares. Based on an average daily volume of 72,284 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 72,284 shares, the short-interest ratio is currently 0.8 days.
RiverNorth Opportunities Fund Price Performance
Shares of RIV stock traded up $0.02 during trading hours on Friday, hitting $11.35. 140,970 shares of the company’s stock were exchanged, compared to its average volume of 101,732. The stock’s 50-day moving average is $11.91 and its 200-day moving average is $11.86. RiverNorth Opportunities Fund has a 52 week low of $10.11 and a 52 week high of $12.56.
RiverNorth Opportunities Fund Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.1306 dividend. This represents a c) annualized dividend and a yield of 13.8%. The ex-dividend date is Monday, March 16th.
Hedge Funds Weigh In On RiverNorth Opportunities Fund
A number of large investors have recently modified their holdings of the stock. Allworth Financial LP bought a new position in RiverNorth Opportunities Fund in the second quarter valued at about $577,000. Everstar Asset Management LLC raised its holdings in RiverNorth Opportunities Fund by 11.4% during the 2nd quarter. Everstar Asset Management LLC now owns 103,746 shares of the company’s stock worth $1,272,000 after purchasing an additional 10,592 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in RiverNorth Opportunities Fund during the 3rd quarter valued at about $136,000. Gateway Wealth Partners LLC acquired a new position in RiverNorth Opportunities Fund during the 4th quarter valued at about $119,000. Finally, Yakira Capital Management Inc. bought a new position in shares of RiverNorth Opportunities Fund in the 4th quarter valued at about $5,244,000.
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.