RiverNorth Opportunities Fund (NYSE:RIV) Shares Down 0.3% – Here’s Why

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was down 0.3% on Monday . The stock traded as low as $12.00 and last traded at $12.0650. Approximately 50,027 shares changed hands during trading, a decline of 54% from the average daily volume of 109,651 shares. The stock had previously closed at $12.10.

RiverNorth Opportunities Fund Price Performance

The company has a 50 day moving average price of $11.85 and a 200 day moving average price of $11.93.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.1306 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 13.0%.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Several large investors have recently added to or reduced their stakes in RIV. Penserra Capital Management LLC increased its holdings in RiverNorth Opportunities Fund by 2.5% during the 3rd quarter. Penserra Capital Management LLC now owns 603,150 shares of the company’s stock worth $7,237,000 after purchasing an additional 14,754 shares in the last quarter. Absolute Investment Advisers LLC purchased a new position in shares of RiverNorth Opportunities Fund during the fourth quarter valued at approximately $4,559,000. Royal Bank of Canada grew its holdings in RiverNorth Opportunities Fund by 25.2% during the first quarter. Royal Bank of Canada now owns 199,111 shares of the company’s stock worth $2,348,000 after buying an additional 40,031 shares in the last quarter. Tennessee Valley Asset Management Partners raised its position in RiverNorth Opportunities Fund by 21.6% in the 2nd quarter. Tennessee Valley Asset Management Partners now owns 137,601 shares of the company’s stock valued at $1,687,000 after buying an additional 24,396 shares during the last quarter. Finally, Everstar Asset Management LLC raised its position in RiverNorth Opportunities Fund by 7.8% in the 4th quarter. Everstar Asset Management LLC now owns 135,467 shares of the company’s stock valued at $1,591,000 after buying an additional 9,798 shares during the last quarter.

RiverNorth Opportunities Fund Company Profile

RiverNorth Opportunities Fund (NYSE:RIV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. Listed on the New York Stock Exchange, the fund employs an unconstrained, actively managed approach to investing across a broad array of convertible and derivative securities.

The fund’s primary investments include convertible bonds, convertible preferred stocks, synthetic convertible instruments (such as caps, floors and spreads), and related derivative instruments.