RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Sees Large Increase in Short Interest

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the target of a large growth in short interest during the month of 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 trading volume of 237,470 shares, the short-interest ratio is presently 5.3 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Gateway Wealth Partners LLC acquired a new stake in RiverNorth Opportunities Fund during the 4th quarter worth approximately $119,000. Alterna Wealth Management Inc. bought a new position in shares of RiverNorth Opportunities Fund during the second quarter valued at $128,000. CIBC Bancorp USA Inc. bought a new position in shares of RiverNorth Opportunities Fund during the third quarter valued at $136,000. WealthTrust Asset Management LLC lifted its holdings in shares of RiverNorth Opportunities Fund by 13.7% during the first quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock worth $168,000 after purchasing an additional 1,821 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of RiverNorth Opportunities Fund during the second quarter worth $179,000.

RiverNorth Opportunities Fund Stock Performance

RiverNorth Opportunities Fund stock remained flat at $10.74 during trading hours on Friday. The company’s stock had a trading volume of 88,993 shares, compared to its average volume of 96,357. RiverNorth Opportunities Fund has a 1 year low of $10.69 and a 1 year high of $12.36. The business has a 50 day moving average of $11.26 and a 200 day moving average of $11.44.

RiverNorth Opportunities Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.1306 per share. This represents a c) annualized dividend 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.