RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Update

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 80,700 shares, a growth of 34.3% from the January 31st total of 60,100 shares. Based on an average daily trading volume, of 129,400 shares, the days-to-cover ratio is currently 0.6 days.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

OPP stock opened at $8.77 on Tuesday. RiverNorth/DoubleLine Strategic Opportunity Fund has a 52 week low of $8.11 and a 52 week high of $9.30. The company’s 50-day simple moving average is $8.49 and its 200 day simple moving average is $8.68.

RiverNorth/DoubleLine Strategic Opportunity Fund Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a $0.095 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a dividend yield of 13.72%.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 26.8% in 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. Sanctuary Advisors LLC bought a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the 3rd quarter valued at about $97,000. Absolute Investment Advisers LLC acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 4th quarter valued at approximately $1,037,000. Strategic Financial Concepts LLC lifted its holdings 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 worth $1,113,000 after acquiring an additional 119,340 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 19.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 64,038 shares of the company’s stock worth $534,000 after acquiring an additional 10,361 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.