RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Down 36.6% in August

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 47,659 shares, a decline of 36.6% from the August 15th total of 75,156 shares. Based on an average daily trading volume, of 92,932 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Institutional investors have recently added to or reduced their stakes in the company. Yakira Capital Management Inc. bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 4th quarter worth approximately $752,000. Sit Investment Associates Inc. purchased a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter worth approximately $1,894,000. 1607 Capital Partners LLC boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 453.6% in the 4th quarter. 1607 Capital Partners LLC now owns 178,157 shares of the company’s stock worth $1,416,000 after buying an additional 145,973 shares during the last quarter. Post Resch Tallon Group Inc. grew its stake in shares of 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 valued at $304,000 after purchasing an additional 9,602 shares during the period. Finally, CoreCap Advisors LLC increased its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 24.3% during the second quarter. CoreCap Advisors LLC now owns 18,900 shares of the company’s stock valued at $146,000 after buying an additional 3,689 shares during the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

Shares of RiverNorth/DoubleLine Strategic Opportunity Fund stock traded up $0.07 during trading on Thursday, reaching $7.17. 191,445 shares of the stock were exchanged, compared to its average volume of 94,149. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1 year low of $7.01 and a 1 year high of $8.67. The stock’s fifty day moving average is $7.55 and its 200 day moving average is $7.64.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were paid a $0.091 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 15.2%.

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.