Fund Description: RiverNorth Opportunities Fund, Inc. is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The RiverNorth Opportunities Fund, Inc. seeks total return consisting of capital appreciation and current income. <p> FUND STRATEGY: The Fund seeks to achieve its investment objective by pursuing a tactical asset allocation strategy and opportunistically investing under normal circumstances in closed-end funds, BDCs and exchange-traded funds (ETFs and collectively, Underlying Funds). Under normal market conditions, the Fund will invest at least 65% of its Managed Assets in CEFs and at least 80% of its Managed Assets in Underlying Funds. In selecting CEFs, the Subadviser will opportunistically utilize a combination of short-term and longer-term trading strategies to seek to derive value from the discount and premium spreads associated with CEFs. The Subadviser employs both a quantitative and qualitative approach in its selection of CEFs and has developed proprietary screening models and trading algorithms. The Fund will invest in other Underlying Funds to gain exposure to specific asset classes when the Subadviser believes CEF discount or premium spreads are not attractive or to manage overall CEF exposure in the Fund. Under normal market conditions, the Fund intends to maintain long positions in Underlying Funds, but may at times establish hedging positions. Hedging positions may include short sales and derivatives, such as options and swaps. Under normal market conditions, no more than 30% of the Fund’s Managed Assets will be in hedging positions. The Fund also may invest up to 20% of its Managed Assets in exchange-traded notes (ETNs), certain derivatives, such as options and swaps, cash and cash equivalents. The Fund’s Charter provides that, during calendar year 2021, the Fund will call a shareholder meeting for the purpose of voting to determine whether the Fund should convert to an open-end management investment company. The Fund may borrow money and/or issue preferred stock, notes or debt securities for investment purposes. These practices are known as leveraging. Since the holders of common stock pay all expenses related to the issuance of debt or use of leverage, any use of leverage would create a greater risk of loss for the shares of common stock than if leverage is not used. The Fund currently anticipates that leverage will initially be obtained through the use of bank borrowings or other similar term loans. The Underlying Funds that the Fund invests in may also use leverage. <p> FUND MANAGEMENT: The Fund’s investment adviser is ALPS Advisors, Inc. and the Fund’s subadviser is RiverNorth Capital Management, LLC.