RiverNorth Opportunities Fund (NYSE:RIV) Trading Up 0.3% – Still a Buy?

RiverNorth Opportunities Fund, Inc. (NYSE:RIV)’s share price traded up 0.3% on Monday . The company traded as high as $11.99 and last traded at $11.9650. 106,256 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 87,622 shares. The stock had previously closed at $11.93.

RiverNorth Opportunities Fund Stock Performance

The business’s 50 day simple moving average is $11.66 and its two-hundred day simple moving average is $11.97.

RiverNorth Opportunities Fund Announces Dividend

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

Institutional Trading of RiverNorth Opportunities Fund

Hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new stake in RiverNorth Opportunities Fund during the 3rd quarter worth approximately $1,200,000. Quarry LP acquired a new position in RiverNorth Opportunities Fund in the 3rd quarter valued at approximately $936,000. Allworth Financial LP bought a new position in shares of RiverNorth Opportunities Fund during the second quarter valued at $577,000. Royal Bank of Canada raised its stake in shares of RiverNorth Opportunities Fund by 25.2% during the first quarter. Royal Bank of Canada now owns 199,111 shares of the company’s stock valued at $2,348,000 after acquiring an additional 40,031 shares during the last quarter. Finally, Kovack Advisors Inc. acquired a new position in shares of RiverNorth Opportunities Fund during the second quarter worth $469,000.

About RiverNorth Opportunities Fund

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.