RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Up 44.0% in February

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 170,120 shares, a growth of 44.0% from the January 29th total of 118,157 shares. Based on an average trading volume of 116,496 shares, the short-interest ratio is currently 1.5 days. Based on an average trading volume of 116,496 shares, the short-interest ratio is currently 1.5 days.

RiverNorth Opportunities Fund Trading Down 0.2%

Shares of NYSE:RIV traded down $0.03 during trading on Friday, reaching $12.02. The stock had a trading volume of 124,480 shares, compared to its average volume of 103,297. RiverNorth Opportunities Fund has a 52 week low of $10.11 and a 52 week high of $12.56. The firm’s fifty day moving average is $11.92 and its 200 day moving average is $11.90.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.1306 per share. This represents a c) dividend on an annualized basis and a yield of 13.0%. The ex-dividend date is Monday, March 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sit Investment Associates Inc. increased its holdings 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 in the last quarter. Yakira Capital Management Inc. acquired a new stake in shares of RiverNorth Opportunities Fund during the 4th quarter worth approximately $5,244,000. Absolute Investment Advisers LLC acquired a new stake in shares of RiverNorth Opportunities Fund during the 4th quarter worth approximately $4,559,000. Arete Wealth Advisors LLC bought a new stake in shares of RiverNorth Opportunities Fund in the 4th quarter valued at $4,428,000. Finally, Readystate Asset Management LP bought a new position in RiverNorth Opportunities Fund during the fourth quarter worth $2,285,000.

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.