RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Sees Significant Decrease in Short Interest

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 18,500 shares, a drop of 33.9% from the August 15th total of 28,000 shares. Based on an average daily trading volume, of 100,600 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of OPP. Future Financial Wealth Managment LLC acquired a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 1st quarter worth $73,000. BlackDiamond Wealth Management LLC acquired a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter valued at about $86,000. Nomura Holdings Inc. purchased a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the 4th quarter valued at approximately $130,000. J.W. Cole Advisors Inc. purchased a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the 1st quarter valued at approximately $160,000. Finally, Integrated Capital Management Inc. increased its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 7.2% during the 1st quarter. Integrated Capital Management Inc. now owns 20,193 shares of the company’s stock worth $174,000 after purchasing an additional 1,363 shares during the period.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

OPP stock traded down $0.08 during trading on Monday, hitting $9.04. The company had a trading volume of 126,132 shares, compared to its average volume of 96,502. The firm has a 50-day moving average price of $8.88 and a 200-day moving average price of $8.61. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1-year low of $7.26 and a 1-year high of $9.30.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.1003 per share. This represents a $1.20 annualized dividend and a dividend yield of 13.31%. The ex-dividend date is Friday, September 13th.

RiverNorth/DoubleLine Strategic Opportunity Fund Company Profile

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by DoubleLine Capital LP. It invests in fixed income markets. The fund seeks to benchmark the performance of its portfolio against the Barclays Capital U.S.