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 Video: What is a Stock Split?
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| RiverNorth Opportunities Fund is a diversified, closed-end management investment company. The Fund's investment objective is total return consisting of capital appreciation and current income. The Fund seeks to achieve its investment objective by pursuing a tactical asset allocation strategy and investing under normal circumstances in closed-end funds and exchange-traded funds with a focus on risk-adjusted returns (Underlying Funds). Underlying Funds also may include business development companies and special purpose acquisition companies. According to our RIV split history records, Rivernorth Opportunities Fund has had 4 splits. | |
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Rivernorth Opportunities Fund (RIV) has 4 splits in our RIV split history database. The first split for RIV took place on February 15, 2005. RIV's second split took place on March 14, 2005. This was a 3 for 1 split, meaning for each share of RIV owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 3000 share position following the split. RIV's third split took place on October 11, 2017. This was a 1016 for 1000 split, meaning for each 1000 shares of RIV owned pre-split, the shareholder now owned 1016 shares. For example, a 3000 share position pre-split, became a 3048 share position following the split. RIV's 4th split took place on October 01, 2019. This was a 1017 for 1000 split, meaning for each 1000 shares of RIV owned pre-split, the shareholder now owned 1017 shares. For example, a 3048 share position pre-split, became a 3099.816 share position following the split.
When a company such as Rivernorth Opportunities Fund splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the RIV split history from start to finish, an original position size of 1000 shares would have turned into 3099.816 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Rivernorth Opportunities Fund shares, starting with a $10,000 purchase of RIV, presented on a split-history-adjusted basis factoring in the complete RIV split history.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
01/11/2016 |
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| End date: |
04/26/2024 |
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| Start price/share: |
$19.02 |
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| End price/share: |
$11.66 |
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| Starting shares: |
525.76 |
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| Ending shares: |
1,552.67 |
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| Dividends reinvested/share: |
$17.38 |
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| Total return: |
81.04% |
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| Average Annual Total Return: |
7.42% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$18,104.80 |
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| Years: |
8.29 |
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Growth of $10,000.00
Without Dividends Reinvested
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| Start date: |
01/11/2016 |
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| End date: |
04/26/2024 |
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| Start price/share: |
$19.02 |
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| End price/share: |
$11.66 |
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| Dividends collected/share: |
$17.38 |
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| Total return: |
52.68% |
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| Average Annual Total Return: |
5.24% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$15,273.87 |
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| Years: |
8.29 |
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| Date |
Ratio |
| 02/15/2005 | 1 for 1 | | 03/14/2005 | 3 for 1 | | 10/11/2017 | 1016 for 1000 | | 10/01/2019 | 1017 for 1000 |
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