RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Down 89.8% in January

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 3,900 shares, a drop of 89.8% from the December 31st total of 38,400 shares. Based on an average daily volume of 78,100 shares, the short-interest ratio is presently 0.0 days.

RiverNorth Opportunities Fund Stock Down 0.7 %

RIV traded down $0.09 during trading on Tuesday, hitting $11.94. 97,949 shares of the stock traded hands, compared to its average volume of 92,526. The business has a 50 day moving average price of $12.13 and a 200 day moving average price of $12.35. RiverNorth Opportunities Fund has a twelve month low of $11.20 and a twelve month high of $12.96.

RiverNorth Opportunities Fund Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be issued a $0.1277 dividend. The ex-dividend date is Wednesday, January 15th. This represents a yield of 12.64%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. bought a new position in shares of RiverNorth Opportunities Fund during the 3rd quarter valued at approximately $27,000. SeaCrest Wealth Management LLC grew its holdings in RiverNorth Opportunities Fund by 7.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 24,086 shares of the company’s stock valued at $277,000 after purchasing an additional 1,608 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in RiverNorth Opportunities Fund in the third quarter worth $568,000. Strategic Financial Concepts LLC raised its stake in shares of RiverNorth Opportunities Fund by 1,171.6% in the fourth quarter. Strategic Financial Concepts LLC now owns 190,734 shares of the company’s stock valued at $2,192,000 after buying an additional 175,734 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of RiverNorth Opportunities Fund by 28.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 248,240 shares of the company’s stock valued at $3,043,000 after buying an additional 54,790 shares during the period.

About RiverNorth Opportunities Fund

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.