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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a significant decrease in short interest in the month of 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 volume of 87,000 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Several large investors have recently modified their holdings of the stock. Elequin Capital LP bought a new position in RiverNorth Opportunities Fund during the fourth quarter worth about $74,000. CoreCap Advisors LLC increased its position 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 acquiring an additional 5,400 shares during the period. Cary Street Partners Financial LLC bought a new position in RiverNorth Opportunities Fund during the fourth quarter worth about $121,000. Baird Financial Group Inc. increased its position 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 acquiring an additional 813 shares during the period. Finally, Jane Street Group LLC bought a new position in RiverNorth Opportunities Fund during the fourth quarter worth about $270,000.

RiverNorth Opportunities Fund Price Performance

Shares of RIV traded down $0.07 during trading hours on Friday, hitting $11.73. The company had a trading volume of 95,921 shares, compared to its average volume of 81,414. The business has a fifty day moving average of $12.12 and a 200-day moving average of $12.33. RiverNorth Opportunities Fund has a 12 month low of $11.20 and a 12 month high of $12.96.

RiverNorth Opportunities Fund Cuts Dividend

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

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.