Absolute Investment Advisers LLC Acquires New Position in RiverNorth Opportunities Fund, Inc. $RIV

Absolute Investment Advisers LLC acquired a new stake in RiverNorth Opportunities Fund, Inc. (NYSE:RIV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 384,389 shares of the company’s stock, valued at approximately $4,559,000.

A number of other hedge funds have also recently modified their holdings of RIV. Penserra Capital Management LLC boosted its stake in shares of RiverNorth Opportunities Fund by 2.5% in the third quarter. Penserra Capital Management LLC now owns 603,150 shares of the company’s stock valued at $7,237,000 after purchasing an additional 14,754 shares during the period. Royal Bank of Canada grew its stake in shares of RiverNorth Opportunities Fund by 25.2% in the first quarter. Royal Bank of Canada now owns 199,111 shares of the company’s stock worth $2,348,000 after acquiring an additional 40,031 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of RiverNorth Opportunities Fund by 24.9% in the second quarter. Osaic Holdings Inc. now owns 102,427 shares of the company’s stock worth $1,256,000 after acquiring an additional 20,423 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of RiverNorth Opportunities Fund in the third quarter worth $1,200,000. Finally, Quarry LP acquired a new position in shares of RiverNorth Opportunities Fund in the third quarter worth $936,000.

RiverNorth Opportunities Fund Stock Performance

NYSE:RIV opened at $11.64 on Wednesday. The company has a fifty day simple moving average of $11.57 and a two-hundred day simple moving average of $11.68. RiverNorth Opportunities Fund, Inc. has a 52 week low of $10.90 and a 52 week high of $12.56.

RiverNorth Opportunities Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.1306 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 13.5%.

RiverNorth Opportunities Fund Company Profile

RiverNorth Opportunities Fund (NYSE:RIV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. Listed on the New York Stock Exchange, the fund employs an unconstrained, actively managed approach to investing across a broad array of convertible and derivative securities.

The fund’s primary investments include convertible bonds, convertible preferred stocks, synthetic convertible instruments (such as caps, floors and spreads), and related derivative instruments.