RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Shareholders Set to Receive $0.13 Monthly Dividend

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) announced a monthly dividend on Thursday, October 1st. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.1306 per share on Thursday, December 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date is Tuesday, December 15th.

RiverNorth Opportunities Fund Stock Up 1.9%

Shares of RIV traded up $0.20 during trading hours on Friday, hitting $10.54. 7,111 shares of the stock were exchanged, compared to its average volume of 97,545. The stock’s 50-day moving average price is $10.96 and its two-hundred day moving average price is $11.32. RiverNorth Opportunities Fund has a 12-month low of $10.32 and a 12-month high of $12.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Sit Investment Associates Inc. grew its holdings in shares of RiverNorth Opportunities Fund by 1,374.7% during the 4th quarter. Sit Investment Associates Inc. now owns 2,771,040 shares of the company’s stock worth $32,532,000 after purchasing an additional 2,583,139 shares during the period. Yakira Capital Management Inc. acquired a new stake in shares of RiverNorth Opportunities Fund during the fourth quarter valued at about $5,244,000. Bank of America Corp DE acquired a new position in shares of RiverNorth Opportunities Fund in the 2nd quarter worth approximately $3,869,000. Advisory Solutions Group LLC acquired a new stake in RiverNorth Opportunities Fund in the 2nd quarter valued at approximately $985,000. Finally, Allworth Financial LP purchased a new stake in RiverNorth Opportunities Fund during the second quarter worth about $770,000.

RiverNorth Opportunities Fund Company Profile

RiverNorth Opportunities Fund (NYSE: RIV) is a diversified closed-end management investment company. The fund seeks to provide investors with total return through a combination of current income and capital appreciation.

RIV primarily invests in other closed-end funds, exchange-traded funds, business development companies and other income-oriented securities. Its investment approach is designed to identify opportunities where market prices may differ from the underlying value of the assets, while also emphasizing income-producing investments.

The fund is advised by RiverNorth Capital Management, an investment manager specializing in tactical and opportunistic strategies involving closed-end funds and other asset classes.