RiverNorth Opportunities Fund, Inc. Declares Monthly Distributions of $0.17 Per Share
January 3, 2019
DENVER–(BUSINESS WIRE)–RiverNorth Opportunities Fund, Inc. (the “Fund”), which is traded on the
New York Stock Exchange under the symbol “RIV,” announced the
declaration of monthly distributions of $0.17 per share, payable on the
dates noted below. Under the Fund’s amended level distribution policy
announced in a press release on September 26, 2018, the distribution
rate has been set to the amount equal to approximately 12.5%
(annualized) of the average of the Fund’s net asset value (“NAV”) per
share, as reported for the final five trading days of the 2018 calendar
year. Based on the Fund’s current NAV per share of $16.25 (as of market
close December 31, 2018), the distributions represent an annualized
distribution rate of 12.55%.
The following dates apply to the distributions declared:
|
Ex Date |
Record Date |
Payable Date |
||||
| January 17, 2019 | January 18, 2019 | January 31, 2019 | ||||
| February 14, 2019 | February 15, 2019 | February 28, 2019 | ||||
| March 14, 2019 | March 15, 2019 | March 29, 2019 | ||||
| April 17, 2019 | April 18, 2019 | April 30, 2019 | ||||
RISKS
This press release is not for tax reporting purposes but is being
provided to announce the amount of the Fund’s distributions. In early
2020, after definitive information is available, the Fund will send
shareholders a Form 1099-DIV, if applicable, specifying how the
distributions paid by the Fund during the prior calendar year should be
characterized for purposes of reporting the distributions on a
shareholder’s tax return (e.g., ordinary income, long-term capital gain
or return of capital). 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.
Investing in the Fund involves risks, including the risk that you may
receive little or no return on your investment or that you may lose part
or even all of your investment. The Fund’s net asset value will vary and
its distribution rate may vary and both may be affected by numerous
factors, including changes in the market spread over a specified
benchmark, market interest rates and performance of the broader equity
markets. Fluctuations in net asset value may be magnified as a result of
the Fund’s use of leverage. Therefore, before investing you should
carefully consider the risks that you assume when you invest in the
Fund’s common shares.
The Fund’s investment objectives and policies are not designed to
seek to return the initial investment to investors that purchase shares.
A portion of the distribution may be treated as paid from sources
other than net income, including but not limited to short‐term capital
gain, long‐term capital gain and return of capital. The final
determination of the source of all distributions, including the
percentage of qualified dividend income, is made after year‐end.
Past performance is no guarantee of future results.
An investor should consider the Fund’s investment objectives,
risks, charges and expenses carefully before investing. To obtain an
annual report or semi-annual report which contains this and other
information, visit www.rivernorthcef.com
or call 855.830.1222. Please read them carefully before investing.
NOT FDIC INSURED | May Lose Value | No Bank Guarantee
The Fund is a closed-end fund and does 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.
ALPS Advisors, Inc. is the investment adviser to the Fund.
RiverNorth Capital Management, LLC is the investment sub-adviser to the
Fund. RiverNorth Capital Management, LLC is not affiliated with ALPS
Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member firm.
SS&C Technologies
SS&C is a global provider of investment and financial software-enabled
services and software for the global financial services and healthcare
industries. Founded in 1986, SS&C is headquartered in Windsor,
Connecticut and has offices around the world. Some 13,000 financial
services and healthcare organizations, from the world’s largest
institutions to local firms, manage and account for their investments
using SS&C’s products and services.
ALPS Advisors, Inc.
ALPS, which was acquired by SS&C in April 2018, provides customized
asset servicing and asset gathering solutions to the financial services
community through an entrepreneurial culture based on the commitment to
“Do Things Right.” Founded in 1985, ALPS continues to actively promote
all of its various business segments, from asset servicing through ALPS
Fund Services, Inc. to asset gathering through ALPS Distributors, Inc.
and ALPS Advisors, Inc. Headquartered in Denver, with offices in Boston,
New York, Seattle, and Toronto, ALPS, a wholly-owned subsidiary of DST
Systems, Inc., today represents more than 400 employees, over 200
clients, and an executive team that has been in place for more than 18
years. For more information about ALPS and its services, visit www.alpsinc.com.
Information about ALPS products is available at www.alpsfunds.com.
RiverNorth Capital Management, LLC
RiverNorth is an investment management firm founded in 2000 that
specializes in opportunistic strategies in niche markets where the
potential to exploit inefficiencies is greatest. RiverNorth is the
manager to multiple registered and private funds.
Contacts
Jen Molgano
Public Relations
+1 617 917 0644
jmolgano@sscinc.com