Tennessee Valley Asset Management Partners Decreases Stock Holdings in RiverNorth Opportunities Fund, Inc. $RIV

Tennessee Valley Asset Management Partners reduced its stake in shares of RiverNorth Opportunities Fund, Inc. (NYSE:RIV) by 50.1% in the fourth quarter, HoldingsChannel reports. The firm owned 137,835 shares of the company’s stock after selling 138,118 shares during the period. Tennessee Valley Asset Management Partners’ holdings in RiverNorth Opportunities Fund were worth $1,618,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new stake in shares of RiverNorth Opportunities Fund during the 3rd quarter worth $136,000. Tactive Advisors LLC purchased a new stake in shares of RiverNorth Opportunities Fund during the 4th quarter worth $140,000. NewEdge Advisors LLC lifted its stake in shares of RiverNorth Opportunities Fund by 5.9% during the 3rd quarter. NewEdge Advisors LLC now owns 19,700 shares of the company’s stock worth $236,000 after purchasing an additional 1,100 shares during the last quarter. Shaker Financial Services LLC purchased a new stake in shares of RiverNorth Opportunities Fund during the 4th quarter worth $452,000. Finally, Bank of America Corp DE lifted its stake in shares of RiverNorth Opportunities Fund by 89.7% during the 2nd quarter. Bank of America Corp DE now owns 47,442 shares of the company’s stock worth $582,000 after purchasing an additional 22,431 shares during the last quarter.

RiverNorth Opportunities Fund Stock Performance

Shares of NYSE RIV opened at $11.48 on Friday. RiverNorth Opportunities Fund, Inc. has a 1-year low of $10.93 and a 1-year high of $12.56. The business has a fifty day moving average price of $11.48 and a 200 day moving average price of $11.68.

RiverNorth Opportunities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.1306 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date is Monday, June 15th.

RiverNorth Opportunities Fund 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.