RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Short Interest Up 153.6% in February

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 66,200 shares, an increase of 153.6% from the January 31st total of 26,100 shares. Based on an average trading volume of 85,100 shares, the short-interest ratio is presently 0.8 days.

RiverNorth Opportunities Fund Stock Up 0.1 %

NYSE:RIV traded up $0.02 during mid-day trading on Friday, reaching $12.27. The company’s stock had a trading volume of 121,206 shares, compared to its average volume of 83,087. The company’s fifty day simple moving average is $12.07 and its two-hundred day simple moving average is $12.35. RiverNorth Opportunities Fund has a twelve month low of $11.20 and a twelve month high of $12.96.

RiverNorth Opportunities Fund Cuts Dividend

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

Institutional Trading of RiverNorth Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new position in RiverNorth Opportunities Fund in the 4th quarter worth about $74,000. Independent Advisor Alliance bought a new position in RiverNorth Opportunities Fund during the fourth quarter worth about $115,000. Cary Street Partners Financial LLC bought a new stake in shares of RiverNorth Opportunities Fund in the fourth quarter valued at about $121,000. Strategic Financial Concepts LLC increased its position in RiverNorth Opportunities Fund by 10.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 16,600 shares of the company’s stock worth $191,000 after buying an additional 1,600 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of RiverNorth Opportunities Fund by 54.2% in the fourth quarter. HighTower Advisors LLC now owns 19,280 shares of the company’s stock valued at $222,000 after buying an additional 6,780 shares during the period.

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.