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

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 66,400 shares, a decrease of 17.2% from the March 15th total of 80,200 shares. Based on an average daily trading volume, of 102,700 shares, the short-interest ratio is currently 0.6 days.

RiverNorth/DoubleLine Strategic Opportunity Fund Trading Down 1.0 %

Shares of NYSE:OPP traded down $0.08 during trading on Monday, reaching $8.11. 37,143 shares of the stock were exchanged, compared to its average volume of 110,051. RiverNorth/DoubleLine Strategic Opportunity Fund has a 12 month low of $7.91 and a 12 month high of $9.30. The stock has a 50-day moving average price of $8.52 and a 200-day moving average price of $8.55.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.095 per share. This represents a dividend yield of 14.04%. The ex-dividend date is Tuesday, April 15th.

Institutional Investors Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 4th quarter worth approximately $1,146,000. Absolute Investment Advisers LLC bought a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the 4th quarter worth $1,037,000. Strategic Financial Concepts LLC lifted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 846.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 133,440 shares of the company’s stock valued at $1,113,000 after acquiring an additional 119,340 shares during the period. Wells Fargo & Company MN grew its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 50.7% during the 4th quarter. Wells Fargo & Company MN now owns 215,438 shares of the company’s stock worth $1,797,000 after purchasing an additional 72,462 shares in the last quarter. Finally, Yakira Capital Management Inc. acquired a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter valued at about $571,000.

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.