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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 3,900 shares, a decline of 89.8% from the December 31st total of 38,400 shares. Based on an average daily volume of 78,100 shares, the short-interest ratio is currently 0.0 days.

RiverNorth Opportunities Fund Price Performance

Shares of RIV traded down $0.09 during mid-day trading on Tuesday, hitting $11.94. The company’s stock had a trading volume of 97,949 shares, compared to its average volume of 92,526. The company’s 50-day moving average is $12.13 and its 200-day 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 disclosed a dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 16th will be given a $0.1277 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a dividend yield of 12.64%.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

A number of large investors have recently made changes to their positions in RIV. SeaCrest Wealth Management LLC grew its position in RiverNorth Opportunities Fund by 7.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 24,086 shares of the company’s stock worth $277,000 after buying an additional 1,608 shares during the period. GHP Investment Advisors Inc. purchased a new stake in shares of RiverNorth Opportunities Fund during the 3rd quarter worth approximately $27,000. B. Riley Wealth Advisors Inc. grew its holdings in RiverNorth Opportunities Fund by 2.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 253,229 shares of the company’s stock valued at $3,273,000 after purchasing an additional 4,989 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in RiverNorth Opportunities Fund in the 3rd quarter valued at about $568,000. Finally, Strategic Financial Concepts LLC increased its stake in shares of RiverNorth Opportunities Fund by 1,171.6% during the 4th quarter. Strategic Financial Concepts LLC now owns 190,734 shares of the company’s stock worth $2,192,000 after purchasing an additional 175,734 shares in the last quarter.

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.