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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 118,157 shares, a growth of 20.3% from the January 15th total of 98,222 shares. Based on an average daily volume of 116,552 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 116,552 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sit Investment Associates Inc. lifted its position in RiverNorth Opportunities Fund by 1,374.7% in the fourth quarter. Sit Investment Associates Inc. now owns 2,771,040 shares of the company’s stock worth $32,532,000 after purchasing an additional 2,583,139 shares during the period. Yakira Capital Management Inc. acquired a new position in shares of RiverNorth Opportunities Fund in the 4th quarter valued at $5,244,000. Absolute Investment Advisers LLC bought a new position in shares of RiverNorth Opportunities Fund during the 4th quarter worth about $4,559,000. Arete Wealth Advisors LLC bought a new position in shares of RiverNorth Opportunities Fund during the 4th quarter worth about $4,428,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of RiverNorth Opportunities Fund during the 3rd quarter valued at about $1,200,000.

RiverNorth Opportunities Fund Trading Up 0.3%

Shares of NYSE:RIV traded up $0.03 during trading on Tuesday, reaching $11.95. The stock had a trading volume of 81,479 shares, compared to its average volume of 111,306. The stock has a fifty day simple moving average of $11.88 and a two-hundred day simple moving average of $11.92. RiverNorth Opportunities Fund has a 52 week low of $10.11 and a 52 week high of $12.56.

RiverNorth Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.1306 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 13.1%.

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.