Short Interest in RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Drops By 46.1%

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

RiverNorth Opportunities Fund Stock Down 0.6 %

RIV stock traded down $0.07 during midday trading on Friday, hitting $11.73. The stock had a trading volume of 95,921 shares, compared to its average volume of 81,414. The company’s 50-day moving average price is $12.12 and its 200 day moving average price is $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 firm 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.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Elequin Capital LP bought a new position in RiverNorth Opportunities Fund during the 4th quarter valued at $74,000. CoreCap Advisors LLC grew its stake in shares of RiverNorth Opportunities Fund by 21.1% in the fourth quarter. CoreCap Advisors LLC now owns 31,050 shares of the company’s stock worth $357,000 after purchasing an additional 5,400 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in RiverNorth Opportunities Fund during the 4th quarter valued at about $121,000. Baird Financial Group Inc. raised its stake in shares of RiverNorth Opportunities Fund by 0.8% in the 4th 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 position in RiverNorth Opportunities Fund in the fourth quarter worth approximately $270,000.

RiverNorth Opportunities Fund Company Profile

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.