RiverNorth Opportunities Fund (NYSE:RIV) Trading Up 0.4% – Time to Buy?

RiverNorth Opportunities Fund, Inc. (NYSE:RIV)’s stock price rose 0.4% on Monday . The company traded as high as $11.44 and last traded at $11.3350. Approximately 54,188 shares traded hands during trading, a decline of 42% from the average daily volume of 93,608 shares. The stock had previously closed at $11.29.

RiverNorth Opportunities Fund Stock Up 0.4%

The stock’s 50-day moving average price is $11.67 and its 200 day moving average price is $11.72.

RiverNorth Opportunities Fund Dividend Announcement

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 $0.1306 dividend. This represents a c) annualized dividend and a yield of 13.8%. The ex-dividend date is Monday, June 15th.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. increased its stake in shares of RiverNorth Opportunities Fund by 1.7% during the second quarter. Raymond James Financial Inc. now owns 63,215 shares of the company’s stock worth $775,000 after purchasing an additional 1,047 shares during the period. NewEdge Advisors LLC boosted its position in shares of RiverNorth Opportunities Fund by 5.9% in the third quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock valued at $236,000 after acquiring an additional 1,100 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of RiverNorth Opportunities Fund by 2.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 51,569 shares of the company’s stock valued at $605,000 after acquiring an additional 1,304 shares in the last quarter. Wedbush Securities Inc. increased its position in RiverNorth Opportunities Fund by 6.3% during the fourth quarter. Wedbush Securities Inc. now owns 26,489 shares of the company’s stock worth $311,000 after acquiring an additional 1,579 shares during the period. Finally, Everstar Asset Management LLC increased its position in RiverNorth Opportunities Fund by 7.8% during the fourth quarter. Everstar Asset Management LLC now owns 135,467 shares of the company’s stock worth $1,591,000 after acquiring an additional 9,798 shares during the period.

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.