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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.
RiverNorth Opportunities Fund Inc. manages $324M in net assets with a diversified portfolio spanning SPACs, US equity, bonds, and BDCs. RIV trades at a 4% discount to NAV, near its 5-year average, and sits at one of its lowest historical points. The fund's 5-year NAV total return is 6.25%, underperforming its peer group, with moderate correlation to broad allocation ETFs.
The RiverNorth Opportunities Fund offers a 13.48% yield by tactically allocating to closed-end funds, SPACs, BDCs, and ETFs. RIV's largest allocation is to special purpose acquisition companies, introducing both diversification benefits and elevated risk for income-focused investors. Distribution coverage relies partly on unrealized gains, making sustainability dependent on continued market strength and successful capital gains realization.
RiverNorth Opportunities Fund Series A Preferred Shares (RIV.PR.A) offer a 6.7% yield at historic low prices, presenting an attractive entry point. RIV.PR.A's price is highly correlated with long-term rates, providing capital gain potential if rates decline or the yield curve shifts lower. The preferred shares benefit from robust 1940 Act regulatory protections, including asset coverage covenants that limit downside risk during severe market stress.
RiverNorth Opportunities Fund offers diversified exposure via CEFs, SPACs, and BDCs with a tactical asset allocation strategy. RIV currently trades at a 3.7% discount, with 3-year annualized NAV returns near 12% and a 24.1% leverage ratio. RIV.PR.A preferred stock provides a 6.59% yield, an A1 Moody's rating, and regulatory protection, making it appealing for conservative investors.
RiverNorth Opportunities Fund (RIV) offers a tactical, diversified portfolio focused on CEFs, SPACs, BDCs, and ETFs, with a 13.51% yield. RIV trades at a 4.54% discount to NAV. Distribution coverage has weakened, with NII plus net realized gains covering only 0.80x the payout in the recent semi-annual period.