RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Down 33.9% in August

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

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

Shares of NYSE:OPP traded down $0.06 during trading hours on Friday, hitting $9.12. The stock had a trading volume of 84,288 shares, compared to its average volume of 96,334. The stock’s fifty day simple moving average is $8.88 and its 200 day simple moving average is $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 announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.1003 per share. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 13.20%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the first quarter worth approximately $73,000. BlackDiamond Wealth Management LLC purchased a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the fourth quarter valued at $86,000. Nomura Holdings Inc. acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 4th quarter valued at $130,000. J.W. Cole Advisors Inc. purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the 1st quarter worth about $160,000. Finally, Integrated Capital Management Inc. increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 7.2% in 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 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.