RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Trading Up 0.4% – Should You Buy?

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP)’s share price traded up 0.4% on Monday . The company traded as high as $8.53 and last traded at $8.52. 119,666 shares were traded during mid-day trading, an increase of 11% from the average session volume of 107,537 shares. The stock had previously closed at $8.49.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Up 0.8 %

The firm’s 50-day simple moving average is $8.69 and its 200-day simple moving average is $8.77.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.1003 per share. This represents a $1.20 dividend on an annualized basis and a yield of 13.93%. The ex-dividend date is Friday, December 13th.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 3rd quarter valued at about $278,000. Sanctuary Advisors LLC bought a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the third quarter worth about $97,000. Stifel Financial Corp boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 26.8% during the third quarter. Stifel Financial Corp now owns 27,503 shares of the company’s stock valued at $250,000 after purchasing an additional 5,807 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 3rd quarter valued at approximately $523,000. Finally, Shaker Financial Services LLC raised its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 46.2% in the 3rd quarter. Shaker Financial Services LLC now owns 114,248 shares of the company’s stock worth $1,037,000 after buying an additional 36,120 shares in the last quarter.

About RiverNorth/DoubleLine Strategic Opportunity Fund

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.