RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Sees Large Drop in Short Interest

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 35,700 shares, a decrease of 46.1% from the February 13th total of 66,200 shares. Based on an average daily trading volume, of 87,000 shares, the short-interest ratio is currently 0.4 days.

RiverNorth Opportunities Fund Trading Down 0.6 %

RiverNorth Opportunities Fund stock traded down $0.07 during trading hours on Friday, reaching $11.73. 95,921 shares of the stock were exchanged, compared to its average volume of 81,414. RiverNorth Opportunities Fund has a twelve month low of $11.20 and a twelve month high of $12.96. The stock has a 50 day moving average of $12.12 and a two-hundred day moving average of $12.33.

RiverNorth Opportunities Fund Cuts Dividend

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

Institutional Investors Weigh In On RiverNorth Opportunities Fund

A number of large investors have recently bought and sold shares of the company. Elequin Capital LP acquired a new stake in RiverNorth Opportunities Fund during the fourth quarter worth about $74,000. CoreCap Advisors LLC grew its stake in RiverNorth Opportunities Fund by 21.1% during the fourth quarter. CoreCap Advisors LLC now owns 31,050 shares of the company’s stock worth $357,000 after buying an additional 5,400 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in RiverNorth Opportunities Fund during the fourth quarter worth about $121,000. Baird Financial Group Inc. grew its stake in RiverNorth Opportunities Fund by 0.8% during the fourth quarter. Baird Financial Group Inc. now owns 99,728 shares of the company’s stock worth $1,146,000 after buying an additional 813 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in RiverNorth Opportunities Fund during the fourth quarter worth about $270,000.

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.