RiverNorth Opportunities Fund (NYSE:RIV) Trading Down 0.7% – What’s Next?

RiverNorth Opportunities Fund, Inc. (NYSE:RIV)’s share price was down 0.7% on Wednesday . The stock traded as low as $11.30 and last traded at $11.33. Approximately 83,943 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 84,746 shares. The stock had previously closed at $11.41.

RiverNorth Opportunities Fund Stock Performance

The business has a 50 day simple moving average of $11.56 and a 200 day simple moving average of $11.68.

RiverNorth Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.1306 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 13.8%.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of RIV. Royal Bank of Canada boosted its holdings in RiverNorth Opportunities Fund by 25.2% during the 1st 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 period. Raymond James Financial Inc. boosted its holdings in RiverNorth Opportunities Fund by 1.7% during the 2nd quarter. Raymond James Financial Inc. now owns 63,215 shares of the company’s stock valued at $775,000 after acquiring an additional 1,047 shares during the period. Bank of America Corp DE boosted its holdings in RiverNorth Opportunities Fund by 89.7% during the 2nd quarter. Bank of America Corp DE now owns 47,442 shares of the company’s stock valued at $582,000 after acquiring an additional 22,431 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in RiverNorth Opportunities Fund by 15.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 50,265 shares of the company’s stock valued at $603,000 after acquiring an additional 6,878 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in RiverNorth Opportunities Fund during the 3rd quarter valued at about $1,200,000.

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.