RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Stock Short Interest Falls 93.8%

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 62,849 shares, a decline of 93.8% from the September 15th total of 1,011,647 shares. Based on an average daily trading volume, of 95,851 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in shares of RiverNorth Opportunities Fund by 2.2% during the second quarter. Allworth Financial LP now owns 66,047 shares of the company’s stock worth $770,000 after purchasing an additional 1,419 shares in the last quarter. WealthTrust Asset Management LLC increased its holdings in RiverNorth Opportunities Fund by 13.7% in the first quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock valued at $168,000 after buying an additional 1,821 shares during the last quarter. Royal Bank of Canada raised its stake in RiverNorth Opportunities Fund by 3.6% in the first quarter. Royal Bank of Canada now owns 205,141 shares of the company’s stock valued at $2,277,000 after buying an additional 7,216 shares in the last quarter. Bank of America Corp DE raised its stake in RiverNorth Opportunities Fund by 3.5% in the first quarter. Bank of America Corp DE now owns 322,246 shares of the company’s stock valued at $3,577,000 after buying an additional 10,785 shares in the last quarter. Finally, Alterna Wealth Management Inc. acquired a new stake in RiverNorth Opportunities Fund in the second quarter valued at $128,000.

RiverNorth Opportunities Fund Stock Down 0.1%

Shares of RIV stock traded down $0.01 during trading hours on Friday, reaching $10.24. 110,444 shares of the stock were exchanged, compared to its average volume of 96,974. The business’s fifty day moving average is $10.85 and its two-hundred day moving average is $11.28. RiverNorth Opportunities Fund has a 12-month low of $10.20 and a 12-month high of $12.15.

RiverNorth Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a $0.1306 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 15.3%.

About RiverNorth Opportunities Fund

RiverNorth Opportunities Fund (NYSE: RIV) is a diversified closed-end management investment company. The fund seeks to provide investors with total return through a combination of current income and capital appreciation.

RIV primarily invests in other closed-end funds, exchange-traded funds, business development companies and other income-oriented securities. Its investment approach is designed to identify opportunities where market prices may differ from the underlying value of the assets, while also emphasizing income-producing investments.

The fund is advised by RiverNorth Capital Management, an investment manager specializing in tactical and opportunistic strategies involving closed-end funds and other asset classes.