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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 63,900 shares, a decrease of 20.7% from the October 15th total of 80,600 shares. Based on an average daily volume of 74,300 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

Several hedge funds have recently modified their holdings of RIV. GHP Investment Advisors Inc. bought a new stake in RiverNorth Opportunities Fund in the third quarter worth about $27,000. SeaCrest Wealth Management LLC raised its position in RiverNorth Opportunities Fund by 8.3% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 22,478 shares of the company’s stock worth $290,000 after purchasing an additional 1,725 shares during the last quarter. Calamos Advisors LLC boosted its holdings in RiverNorth Opportunities Fund by 27.6% during the second quarter. Calamos Advisors LLC now owns 30,271 shares of the company’s stock worth $371,000 after buying an additional 6,549 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in RiverNorth Opportunities Fund by 4.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 41,975 shares of the company’s stock worth $505,000 after buying an additional 1,743 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in shares of RiverNorth Opportunities Fund during the 3rd quarter worth approximately $568,000.

RiverNorth Opportunities Fund Price Performance

RiverNorth Opportunities Fund stock traded down $0.11 during midday trading on Friday, hitting $12.40. 55,167 shares of the stock were exchanged, 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 stock’s 50-day simple moving average is $12.62 and its 200 day simple moving average is $12.35.

RiverNorth Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued 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%.

RiverNorth Opportunities Fund Company Profile

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.