Rivernorth Opportunities Fund Inc (NYSE:RIV) Sees Significant Growth in Short Interest

Rivernorth Opportunities Fund Inc (NYSE:RIV) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 18,700 shares, an increase of 171.0% from the August 31st total of 6,900 shares. Based on an average trading volume of 66,200 shares, the short-interest ratio is presently 0.3 days.

Hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its position in shares of Rivernorth Opportunities Fund by 194.9% in the second quarter. Janney Montgomery Scott LLC now owns 122,309 shares of the company’s stock worth $1,815,000 after buying an additional 80,834 shares during the period. Royal Bank of Canada boosted its position in shares of Rivernorth Opportunities Fund by 19.6% in the first quarter. Royal Bank of Canada now owns 146,355 shares of the company’s stock worth $1,818,000 after buying an additional 23,996 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Rivernorth Opportunities Fund in the second quarter worth about $447,000. Morgan Stanley boosted its position in shares of Rivernorth Opportunities Fund by 13.7% in the first quarter. Morgan Stanley now owns 811,132 shares of the company’s stock worth $10,074,000 after buying an additional 97,460 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV boosted its holdings in Rivernorth Opportunities Fund by 2.9% in the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 48,900 shares of the company’s stock valued at $726,000 after purchasing an additional 1,400 shares during the last quarter.

RIV stock traded up $0.03 during trading on Tuesday, reaching $14.47. 200 shares of the stock traded hands, compared to its average volume of 78,018. The business’s 50 day moving average price is $15.19 and its 200-day moving average price is $14.09. Rivernorth Opportunities Fund has a 52-week low of $8.65 and a 52-week high of $17.42.

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a dividend of $0.18 per share. This represents a $2.16 dividend on an annualized basis and a yield of 14.93%. The ex-dividend date is Wednesday, December 16th.

About Rivernorth Opportunities Fund

There is no company description available for RiverNorth Opportunities.

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