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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 66,200 shares, a growth 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 currently 0.8 days.

Institutional Inflows and Outflows

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

RiverNorth Opportunities Fund Stock Performance

RiverNorth Opportunities Fund stock traded up $0.02 during mid-day trading on Friday, reaching $12.27. The company had a trading volume of 121,206 shares, compared to its average volume of 83,087. The business has a fifty day simple moving average of $12.07 and a 200 day simple moving average of $12.35. RiverNorth Opportunities Fund has a fifty-two week low of $11.20 and a fifty-two week high of $12.96.

RiverNorth Opportunities Fund Cuts Dividend

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

About RiverNorth Opportunities Fund

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.