RiverNorth Opportunities Fund, Inc. (NYSE:RIV) Sees Significant Growth in Short Interest

RiverNorth Opportunities Fund, Inc. (NYSE:RIV) saw a large growth in short interest in June. As of June 15th, there was short interest totaling 79,024 shares, a growth of 80.2% from the May 31st total of 43,849 shares. Based on an average daily volume of 63,893 shares, the short-interest ratio is currently 1.2 days.

Hedge Funds Weigh In On RiverNorth Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in 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 buying an additional 40,031 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of RiverNorth Opportunities Fund by 1.7% during the 2nd quarter. Raymond James Financial Inc. now owns 63,215 shares of the company’s stock worth $775,000 after acquiring an additional 1,047 shares during the period. Bank of America Corp DE grew its holdings in shares of RiverNorth Opportunities Fund by 89.7% during the 2nd quarter. Bank of America Corp DE now owns 47,442 shares of the company’s stock worth $582,000 after acquiring an additional 22,431 shares during the period. Nomura Holdings Inc. purchased a new position in shares of RiverNorth Opportunities Fund during the 3rd quarter worth approximately $1,200,000. Finally, Quarry LP bought a new position in shares of RiverNorth Opportunities Fund in the 3rd quarter worth approximately $936,000.

RiverNorth Opportunities Fund Stock Performance

Shares of RIV stock opened at $11.64 on Thursday. The business has a 50-day moving average of $11.59 and a 200 day moving average of $11.67. RiverNorth Opportunities Fund has a 1-year low of $10.93 and a 1-year high of $12.56.

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.