RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Trading Down 1% – Here’s Why

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) dropped 1% during mid-day trading on Thursday . The company traded as low as $7.61 and last traded at $7.6310. Approximately 39,354 shares traded hands during trading, a decline of 58% from the average daily volume of 93,485 shares. The stock had previously closed at $7.71.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Up 0.5%

The company’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $7.74.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.091 per share. This represents a c) dividend on an annualized basis and a dividend yield of 14.3%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

A number of large investors have recently made changes to their positions in the company. Post Resch Tallon Group Inc. raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 32.2% during the 2nd quarter. Post Resch Tallon Group Inc. now owns 39,418 shares of the company’s stock worth $304,000 after buying an additional 9,602 shares during the period. CoreCap Advisors LLC grew its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 24.3% in the second quarter. CoreCap Advisors LLC now owns 18,900 shares of the company’s stock valued at $146,000 after acquiring an additional 3,689 shares during the period. Gateway Wealth Partners LLC increased its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 113.1% in the first quarter. Gateway Wealth Partners LLC now owns 39,226 shares of the company’s stock worth $301,000 after acquiring an additional 20,816 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the first quarter worth about $286,000. Finally, Ascentis Independent Advisors bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the first quarter worth about $126,000.

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.