RiverNorth Opportunities Fund (NYSE:RIV) Shares Up 0.8% – Here’s What Happened

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

RiverNorth Opportunities Fund Stock Performance

The business’s 50 day simple moving average is $10.48 and its 200 day simple moving average is $11.32.

RiverNorth Opportunities Fund Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RIV. Allworth Financial LP boosted its holdings in RiverNorth Opportunities Fund by 2.2% in the second quarter. Allworth Financial LP now owns 66,047 shares of the company’s stock valued at $770,000 after acquiring an additional 1,419 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in RiverNorth Opportunities Fund by 2.8% in the third quarter. Oppenheimer & Co. Inc. now owns 55,306 shares of the company’s stock valued at $572,000 after acquiring an additional 1,527 shares during the period. SeaCrest Wealth Management LLC raised its holdings in RiverNorth Opportunities Fund by 7.7% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 23,248 shares of the company’s stock worth $240,000 after buying an additional 1,655 shares during the period. WealthTrust Asset Management LLC lifted its position in RiverNorth Opportunities Fund by 13.7% in the 1st quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock valued at $168,000 after acquiring an additional 1,821 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its position in shares of RiverNorth Opportunities Fund by 4.2% during 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 period.

About RiverNorth Opportunities Fund

RiverNorth Opportunities Fund, Inc (NYSE:RIV) is a non-diversified, closed-end management investment company. The fund seeks to provide investors with total return through a flexible, opportunistic investment strategy rather than operating a traditional commercial business.

Managed by RiverNorth Capital Management, the fund invests primarily in other investment vehicles and securities, including closed-end funds, exchange-traded funds, business development companies, special purpose acquisition companies, and other publicly traded and privately placed investments.