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RIV: High-Yield Play - Distribution Announced Through The End Of 2020

Published Sat, 05 Sep 2020 08:15:41 -0400 on Seeking Alpha

Seeking AlphaClosed End FundsRIV: High-Yield Play - Distribution Announced Through The End Of 2020Sep. 5, 2020 8:15 AM ET|| About: RiverNorth Opportunities Fund, Inc. (RIV), Includes: BBDC, FOF, MVC, MVCD, PPRby: Nick AckermanNick Ackerman CEF/ETF Income LaboratoryCEF/ETF income and arbitrage strategies, 8%+ portfolio yieldsSummaryRIV is currently yielding over 14%, and the monthly $0.18 rate was just announced through the remainder of 2020.
While the fund isn't fully earning this distribution, it has a track record of consistently high distributions.
The fund isn't necessarily cheap at these levels though as it is trading near par.
If volatility picks up, this one could be a great addition to an income investor's portfolio.
Written by Nick Ackerman, co-produced by Stanford Chemist
The RiverNorth Opportunities Fund (NYSE: RIV) is a highly diversified fund as it invests with a "fund of funds" approach. It is also starting to have quite a history with double-digit yields. Based on inception in late-2015 and spending a large portion of that time offering a high level of distributions. That can be perfect for an income investor. The caveat here is that the fund's NAV has also declined some since it launched in 2015. The NAV per share at launch was $19.36, and today, NAV stands at $15.18. Of course, this wasn't helped any by the pandemic sell-off earlier this year.
RIV has an investment objective of "total return consisting of capital appreciation and current income." As we just highlighted, the returns have come from income and not capital appreciation at this time.
It "employs a tactical asset allocation strategy primarily comprised of both closed-end funds and exchange-traded funds. 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."
Essentially it is managing the fund just like... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
MVC CAPITAL 8.87   13.6 0.65 0.60 6.80
ING PRIME RATE TRUST 4.70   0.0 0.00 0.00 6.67


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