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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 79,024 shares, a growth of 80.2% from the May 31st total of 43,849 shares. Based on an average daily volume of 63,893 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Several hedge funds have recently made changes to their positions in RIV. Raymond James Financial Inc. boosted its stake in RiverNorth Opportunities Fund by 1.7% in the 2nd 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 grew its holdings in RiverNorth Opportunities Fund by 5.9% during the 3rd quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock valued at $236,000 after buying an additional 1,100 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of RiverNorth Opportunities Fund by 2.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 51,569 shares of the company’s stock valued at $605,000 after buying an additional 1,304 shares during the period. Wedbush Securities Inc. increased its position in shares of RiverNorth Opportunities Fund by 6.3% during the fourth quarter. Wedbush Securities Inc. now owns 26,489 shares of the company’s stock valued at $311,000 after buying an additional 1,579 shares during the period. Finally, WealthTrust Asset Management LLC increased its position 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 valued at $168,000 after buying an additional 1,821 shares during the period.

RiverNorth Opportunities Fund Stock Up 0.1%

RIV opened at $11.71 on Friday. The company has a 50 day moving average of $11.59 and a 200 day moving average of $11.66. RiverNorth Opportunities Fund has a 12 month low of $10.93 and a 12 month high of $12.56.

RiverNorth Opportunities Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.1306 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 13.4%.

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.