RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Shares of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $7.04 and traded as low as $7.00. RiverNorth/DoubleLine Strategic Opportunity Fund shares last traded at $7.0350, with a volume of 134,911 shares traded.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

The firm’s 50-day simple moving average is $7.03 and its two-hundred day simple moving average is $7.53.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.0910 per share. This represents a $1.09 annualized dividend and a dividend yield of 15.7%. The ex-dividend date is Tuesday, December 15th.

Institutional Investors Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

A number of large investors have recently made changes to their positions in the stock. Baird Financial Group Inc. raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 2.8% in the 2nd quarter. Baird Financial Group Inc. now owns 127,126 shares of the company’s stock worth $981,000 after acquiring an additional 3,507 shares during the last quarter. CoreCap Advisors LLC grew its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 24.3% during the 2nd quarter. CoreCap Advisors LLC now owns 18,900 shares of the company’s stock valued at $146,000 after purchasing an additional 3,689 shares during the last quarter. Total Wealth Planning & Management Inc. grew its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 12.2% during the 3rd quarter. Total Wealth Planning & Management Inc. now owns 51,661 shares of the company’s stock valued at $357,000 after purchasing an additional 5,603 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the second quarter valued at about $52,000. Finally, Kestra Advisory Services LLC increased its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 15.8% in the third quarter. Kestra Advisory Services LLC now owns 66,020 shares of the company’s stock valued at $457,000 after purchasing an additional 9,000 shares during the period.

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