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

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the recipient of a large 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 daily volume of 102,415 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

A number of institutional investors have recently bought and sold shares of the business. Gateway Wealth Partners LLC raised its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 113.1% during the 1st quarter. Gateway Wealth Partners LLC now owns 39,226 shares of the company’s stock worth $301,000 after buying an additional 20,816 shares during the last quarter. Fifth Third Bancorp purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the 1st quarter worth approximately $286,000. Ascentis Independent Advisors purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the 1st quarter worth approximately $126,000. PFG Investments LLC raised its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 1.0% during the 1st quarter. PFG Investments LLC now owns 137,792 shares of the company’s stock worth $1,057,000 after buying an additional 1,368 shares during the last quarter. Finally, Riverbridge Partners LLC grew its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 5.8% during the 1st quarter. Riverbridge Partners LLC now owns 237,095 shares of the company’s stock worth $1,819,000 after purchasing an additional 12,989 shares during the period.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

OPP traded down $0.07 during trading on Monday, reaching $7.56. 30,393 shares of the company’s stock were exchanged, compared to its average volume of 97,106. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1 year low of $7.49 and a 1 year high of $8.82. The company’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $7.80.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.091 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 14.5%.

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.