RiverNorth Opportunities Fund (NYSE:RIV) Stock Price Up 0.8% – Time to Buy?

RiverNorth Opportunities Fund, Inc. (NYSE:RIV)’s share price traded up 0.8% on Friday. The stock traded as high as $10.44 and last traded at $10.3380. 140,943 shares changed hands during trading, an increase of 42% from the average session volume of 99,396 shares. The stock had previously closed at $10.26.

RiverNorth Opportunities Fund Stock Up 0.8%

The business has a fifty day moving average price of $10.48 and a two-hundred day moving average price of $11.32.

RiverNorth Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.1306 dividend. This represents a $1.57 annualized dividend and a yield of 15.2%. The ex-dividend date is Tuesday, December 15th.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

A number of institutional investors have recently bought and sold shares of the business. Arete Wealth Advisors LLC raised its stake in shares of RiverNorth Opportunities Fund by 15.9% during the 1st quarter. Arete Wealth Advisors LLC now owns 437,265 shares of the company’s stock valued at $4,867,000 after buying an additional 60,096 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of RiverNorth Opportunities Fund in the 2nd quarter valued at about $3,869,000. Royal Bank of Canada boosted its stake in shares of RiverNorth Opportunities Fund by 3.6% in the first quarter. Royal Bank of Canada now owns 205,141 shares of the company’s stock worth $2,277,000 after buying an additional 7,216 shares during the last quarter. Advisory Solutions Group LLC purchased a new stake in shares of RiverNorth Opportunities Fund in the second quarter worth about $985,000. Finally, Opal Wealth Advisors LLC boosted its stake in shares of RiverNorth Opportunities Fund by 4.2% in the third quarter. Opal Wealth Advisors LLC now owns 71,753 shares of the company’s stock worth $742,000 after buying an additional 2,871 shares during the last quarter.

RiverNorth Opportunities Fund Company Profile

RiverNorth Opportunities Fund, Inc (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.

RiverNorth Opportunities Fund pursues its objective through an opportunistic, actively managed strategy that may invest in closed-end funds, exchange-traded funds, business development companies, and other investment companies and securities. Its portfolio may provide exposure to a range of asset classes, including equity and fixed-income investments, while the adviser seeks to identify market pricing discrepancies and attractive income opportunities.

The fund is advised by RiverNorth Capital Management, LLC, an investment manager specializing in closed-end fund and opportunistic investment strategies.