RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Update

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 1,261,553 shares, a growth of 1,368.7% from the August 15th total of 85,898 shares. Based on an average daily trading volume, of 237,470 shares, the short-interest ratio is presently 5.3 days.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Hedge funds have recently modified their holdings of the stock. Sit Investment Associates Inc. boosted its holdings in shares of RiverNorth Opportunities Fund by 1,374.7% in the fourth quarter. Sit Investment Associates Inc. now owns 2,771,040 shares of the company’s stock worth $32,532,000 after buying an additional 2,583,139 shares during the period. Yakira Capital Management Inc. purchased a new position in RiverNorth Opportunities Fund during the 4th quarter worth approximately $5,244,000. Arete Wealth Advisors LLC purchased a new stake in shares of RiverNorth Opportunities Fund in the fourth quarter valued at $4,428,000. Bank of America Corp DE purchased a new position in RiverNorth Opportunities Fund during the 2nd quarter valued at about $3,869,000. Finally, Readystate Asset Management LP acquired a new position in shares of RiverNorth Opportunities Fund in the 4th quarter valued at about $2,285,000.

RiverNorth Opportunities Fund Trading Down 0.1%

Shares of RiverNorth Opportunities Fund stock traded down $0.01 during trading on Friday, hitting $10.72. The stock had a trading volume of 33,202 shares, compared to its average volume of 95,908. The business has a fifty day moving average of $11.28 and a two-hundred day moving average of $11.45. RiverNorth Opportunities Fund has a fifty-two week low of $10.69 and a fifty-two week high of $12.36.

RiverNorth Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were issued a $0.1306 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.6%. The ex-dividend date was Wednesday, July 15th.

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.