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

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) announced a monthly dividend on Thursday, October 1st. Shareholders of record on Tuesday, December 15th will be given 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 Performance

NYSE:RIV traded up $0.20 during mid-day trading on Friday, hitting $10.54. 7,111 shares of the company traded hands, compared to its average volume of 97,545. The stock’s fifty day moving average price is $10.96 and its 200-day moving average price is $11.32. RiverNorth Opportunities Fund has a one year low of $10.32 and a one year high of $12.15.

Institutional Investors Weigh In On RiverNorth Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alterna Wealth Management Inc. purchased a new position in shares of RiverNorth Opportunities Fund during the second quarter valued at approximately $128,000. WealthTrust Asset Management LLC raised its holdings in RiverNorth Opportunities Fund by 13.7% in the first quarter. WealthTrust Asset Management LLC now owns 15,123 shares of the company’s stock worth $168,000 after purchasing an additional 1,821 shares in the last quarter. BlackRock Inc. acquired a new stake in RiverNorth Opportunities Fund in the 2nd quarter worth approximately $179,000. Gateway Wealth Partners LLC boosted its position in RiverNorth Opportunities Fund by 158.5% in the first quarter. Gateway Wealth Partners LLC now owns 26,166 shares of the company’s stock valued at $290,000 after buying an additional 16,043 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of RiverNorth Opportunities Fund in the fourth quarter worth about $337,000.

About RiverNorth Opportunities Fund

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.