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

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 54,684 shares, a drop of 49.7% from the May 14th total of 108,674 shares. Based on an average trading volume of 102,415 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 921.7% in the first quarter. Geneos Wealth Management Inc. now owns 3,525 shares of the company’s stock valued at $30,000 after acquiring an additional 3,180 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the third quarter worth $38,000. Bank of America Corp DE lifted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 198.7% in the third quarter. Bank of America Corp DE now owns 4,681 shares of the company’s stock valued at $40,000 after buying an additional 3,114 shares during the period. Global Retirement Partners LLC acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the fourth quarter valued at about $45,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the fourth quarter valued at about $88,000.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

NYSE:OPP traded up $0.04 during mid-day trading on Friday, reaching $7.64. The stock had a trading volume of 74,017 shares, compared to its average volume of 97,702. The stock has a 50-day simple moving average of $7.72 and a two-hundred day simple moving average of $7.80. RiverNorth/DoubleLine Strategic Opportunity Fund has a 12 month low of $7.49 and a 12 month high of $8.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.091 dividend. This represents a c) dividend on an annualized basis and a yield of 14.3%. The ex-dividend date of this dividend is Monday, June 15th.

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. Aggregate Bond Index. RiverNorth/DoubleLine Strategic Opportunity Fund, Inc was formed on December 30, 2010 and is domiciled in the United States.