RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Update

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 66,200 shares, an increase of 153.6% from the January 31st total of 26,100 shares. Based on an average daily trading volume, of 85,100 shares, the short-interest ratio is currently 0.8 days.

RiverNorth Opportunities Fund Stock Up 0.1 %

Shares of RiverNorth Opportunities Fund stock traded up $0.02 on Friday, reaching $12.27. The company’s stock had a trading volume of 121,206 shares, compared to its average volume of 83,087. The firm’s fifty day simple moving average is $12.06 and its two-hundred day simple moving average is $12.35. RiverNorth Opportunities Fund has a 52 week low of $11.20 and a 52 week high of $12.96.

RiverNorth Opportunities Fund Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a $0.1277 dividend. This represents a dividend yield of 12.64%. The ex-dividend date of this dividend was Wednesday, January 15th.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. SeaCrest Wealth Management LLC lifted its position in shares of RiverNorth Opportunities Fund by 7.2% in the fourth quarter. SeaCrest Wealth Management LLC now owns 24,086 shares of the company’s stock valued at $277,000 after acquiring an additional 1,608 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of RiverNorth Opportunities Fund by 10.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 16,600 shares of the company’s stock valued at $191,000 after buying an additional 1,600 shares during the last quarter. Principal Securities Inc. grew its stake in shares of RiverNorth Opportunities Fund by 6.6% during the fourth quarter. Principal Securities Inc. now owns 165,714 shares of the company’s stock valued at $1,904,000 after buying an additional 10,247 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of RiverNorth Opportunities Fund during the third quarter valued at approximately $7,864,000. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of RiverNorth Opportunities Fund by 25.8% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 42,780 shares of the company’s stock valued at $492,000 after purchasing an additional 8,780 shares during the period.

About RiverNorth Opportunities Fund

RiverNorth Opportunities Fund, Inc is a close ended equity mutual fund co- launched and co- managed by ALPS Advisors, Inc and RiverNorth Capital Management, LLC. It invests in the equity markets. The fund seeks to invest in stocks of companies operating across the diversified sectors. RiverNorth Opportunities Fund, Inc was formed on December 24, 2015 and is domiciled in the United States.