RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Shares Shorted: Short Interest Down 93.8% in September

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

RiverNorth Opportunities Fund Stock Performance

Shares of RiverNorth Opportunities Fund stock traded down $0.01 during trading on Friday, reaching $10.24. 110,444 shares of the stock were exchanged, compared to its average volume of 96,974. RiverNorth Opportunities Fund has a 1 year low of $10.20 and a 1 year high of $12.15. The stock’s fifty day moving average is $10.85 and its 200 day moving average is $11.28.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.1306 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.57 annualized dividend and a dividend yield of 15.3%.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in RIV. Alterna Wealth Management Inc. purchased a new stake in RiverNorth Opportunities Fund in the second quarter worth $128,000. WealthTrust Asset Management LLC increased its position in RiverNorth Opportunities Fund by 13.7% during the 1st quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock valued at $168,000 after purchasing an additional 1,821 shares during the period. BlackRock Inc. bought a new position in RiverNorth Opportunities Fund in the 2nd quarter worth $179,000. Gateway Wealth Partners LLC raised its holdings in RiverNorth Opportunities Fund by 158.5% in the 1st quarter. Gateway Wealth Partners LLC now owns 26,166 shares of the company’s stock worth $290,000 after purchasing an additional 16,043 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of RiverNorth Opportunities Fund by 76.0% in the 2nd quarter. CoreCap Advisors LLC now owns 35,436 shares of the company’s stock worth $413,000 after purchasing an additional 15,303 shares during the period.

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.