RiverNorth Opportunities Fund (NYSE:RIV) Trading Up 0.3% – Time to Buy?

RiverNorth Opportunities Fund, Inc. (NYSE:RIV)’s stock price was up 0.3% during mid-day trading on Friday . The stock traded as high as $11.81 and last traded at $11.66. Approximately 86,096 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 94,890 shares. The stock had previously closed at $11.63.

RiverNorth Opportunities Fund Price Performance

The company’s 50-day simple moving average is $12.02 and its 200-day simple moving average is $12.02.

RiverNorth Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.1277 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%.

Institutional Trading of RiverNorth Opportunities Fund

A number of hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its position in shares of RiverNorth Opportunities Fund by 24.9% during the second quarter. Osaic Holdings Inc. now owns 102,427 shares of the company’s stock worth $1,256,000 after buying an additional 20,423 shares in the last quarter. Bank of America Corp DE grew its position in shares of RiverNorth Opportunities Fund by 89.7% during the second quarter. Bank of America Corp DE now owns 47,442 shares of the company’s stock worth $582,000 after buying an additional 22,431 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of RiverNorth Opportunities Fund by 1.7% during the second quarter. Raymond James Financial Inc. now owns 63,215 shares of the company’s stock worth $775,000 after buying an additional 1,047 shares in the last quarter. Tennessee Valley Asset Management Partners lifted its stake in RiverNorth Opportunities Fund by 21.6% during the second quarter. Tennessee Valley Asset Management Partners now owns 137,601 shares of the company’s stock worth $1,687,000 after purchasing an additional 24,396 shares during the last quarter. Finally, Everstar Asset Management LLC lifted its stake in RiverNorth Opportunities Fund by 11.4% during the second quarter. Everstar Asset Management LLC now owns 103,746 shares of the company’s stock worth $1,272,000 after purchasing an additional 10,592 shares during the last quarter.

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.