RiverNorth Opportunities Fund, Inc.
Investment Objective & Philosophy
RiverNorth Opportunities Fund, Inc. (the “Fund”) seeks total return consisting of capital appreciation and current income.
While RiverNorth Capital Management, LLC (”RiverNorth”) believes markets are generally efficient, closed-end funds offer a unique structure whereby investors can purchase a diversified fund and potentially generate additional return through the change in the relationship between the closed-end fund’s market price and Net Asset Value (NAV)1.
Investment Strategy
The Fund employs a tactical asset allocation strategy primarily comprised of closed-end funds, exchange-traded funds, special purpose acquisition companies (SPACs), and business development companies (BDCs). RiverNorth implements an opportunistic investment strategy designed to capitalize on the inefficiencies in the closed-end fund space while simultaneously providing diversified exposure to several asset classes.
Investment Rationale
RiverNorth Opportunities Fund, Inc.is a closed-end fund designed to opportunistically invest in closed-end funds (CEFs), exchange-traded funds (ETFs), special purpose acquisition companies (SPACs), and business development companies (BDCs) which seeks to provide:
- Attractive monthly current income and the potential for capital appreciation
- Access to a diversified portfolio of closed-end and exchange-traded funds representing a wide array of underlying asset classes
- The potential to benefit from unique alpha* opportunities in the closed-end fund market
- Opportunistic use of leverage in order to potentially capitalize at times on market dislocations2
* A measure of performance on a risk-adjusted basis.
FUND Information
*Managed assets include assets attributable to leverage.
The NAV ticker symbol represents the Fund’s Net Asset Value per share as it is reported by the Fund Sponsor via NASDAQ.
Portfolio Statistics
Total Returns
As of 10.31.2024
| Prior Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception | |
|---|---|---|---|---|---|---|
| RIV Net Asset Value | -1.66 | 11.49 | 25.46 | 3.54 | 7.90 | 8.33 |
| RIV Market Price | -3.35 | 24.88 | 43.51 | 3.33 | 8.60 | 7.87 |
| S&P 500 Total Return Index | -0.91 | 20.97 | 38.02 | 9.08 | 15.27 | 14.19 |
Performance data quoted represents past performance, which is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares may be worth more or less than their original cost. You can obtain performance data current to the most recent month end by calling 844.569.4750. Total return measures net investment income and capital gain or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital gains distributions.
† Annualized
Inception Date: 12.24.2015
Market price is the price that the Fund closed at on the primary listing exchange on the as-of date listed above.
NAV is the Net Asset Value of the Fund and equals the value of all the Fund’s assets (less liabilities) divided by the number of shares outstanding.
Expenses do not include the effects of leverage.
Historical Price
Premium/Discount
Asset Class Allocation
Investment Vehicle Allocation
Sector Allocation
Cumulative Distributions
Distribution Information
Distribution dates are estimates and subject to change.
Section 19A-1 Notices
RiverNorth Closed-End Funds Declare Monthly Distributions
Preferred Issue
| NYSE Trading Symbol | RIVPRA |
| Number of Shares | 3,910,000 |
| Initial Public Offering Price | $25.00 per Share |
| Liquidation Preference | $25.00 per Share plus accumulated and unpaid dividends, if any |
| Dividend Rate | 6.00% per annum |
| Original Issue | April 20, 2022 |
| Non-Call Period and Redemption Information | The Series A Preferred Shares are generally not redeemable at the Fund’s option prior to May 15, 2027, and are subject to mandatory redemption by the Fund in certain circumstances. On or after May 15, 2027, the Fund may redeem in whole or from time to time in part outstanding Series A Preferred Shares at a redemption price per share equal to the per share liquidation preference plus accumulated and unpaid dividends, if any, through the date of redemption. |
| Dividend Payment Dates | Quarterly every February 15, May 15, August 15 and November 15. If a dividend payment date falls on a non-business day, the applicable dividend payment will be made on the next business day and no additional dividend payment will accrue as a result of such delayed payment. Series A Commencement Date: May 15, 2022. |
Distributions
Portfolio Management
Documents
Fund Updates
Regulatory Documents
Tax Reporting
Recent News
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October 2024: RiverNorth Opportunities Fund, Inc. and RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announce Preferred Dividends
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October 2024: RiverNorth Closed-End Funds Declare Monthly Distributions
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July 2024: RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. Announce Preferred Dividends
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Disclosures & Definitions
Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the Common Shares, you should consider the risks as well as the other information in the prospectus.
More detailed information regarding these risks can be found in the Fund’s prospectus.
Past performance is no guarantee of future results. Diversification does not ensure a profit or guarantee against loss.
An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle.
Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. The Annual Report and/or Semi Annual Report should be read carefully before investing. For more information, please read the Annual Report and/or Semi Annual Report, call your financial professional or call 844.569.4750.
The fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market’s value.
CFA® is a trademark owned by the CFA Institute.
- The price at which a closed-end fund trades often varies from its NAV. Some funds have market prices below their net asset values – referred to as a discount. Conversely, some funds have market prices above their net asset values – referred to as a premium.
- Leverage is a speculative technique that exposes a closed-end fund to greater risk and increased costs than if it were not used. The use of leverage may cause greater volatility in the level of a closed-end fund’s NAV, market price and distributions on its common shares. Leverage will also result in higher fees to the closed-end fund manager because the amount of assets under management will be included in the Fund’s managed assets. There can be no assurance that a closed-end fund will use leverage or that its leveraging strategy will be successful during any period in which it is employed.
- The S&P 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy based on the changing aggregate market value of these 500 stocks.
- Estimated Duration: Duration is a measure of the sensitivity of the price of a fixed income investment to a change in interest rates. Duration is expressed as a number of years. Duration is estimated by the adviser based on certain assumptions from third-party data and is subject to change.