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

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 50,000 shares, a decline of 69.3% from the November 30th total of 162,800 shares. Based on an average trading volume of 153,000 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Hedge funds have recently modified their holdings of the company. SeaCrest Wealth Management LLC increased its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 9.6% during the third quarter. SeaCrest Wealth Management LLC now owns 53,677 shares of the company’s stock valued at $487,000 after acquiring an additional 4,694 shares during the last quarter. CoreCap Advisors LLC bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 2nd quarter worth $301,000. J.W. Cole Advisors Inc. boosted its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 122.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 41,382 shares of the company’s stock worth $358,000 after buying an additional 22,800 shares during the last quarter. PFG Investments LLC grew its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 48.1% during the second quarter. PFG Investments LLC now owns 82,966 shares of the company’s stock valued at $718,000 after buying an additional 26,946 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 3.2% during the second quarter. Wedbush Securities Inc. now owns 54,400 shares of the company’s stock worth $471,000 after buying an additional 1,700 shares during the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

Shares of OPP stock remained flat at $8.38 on Thursday. 102,448 shares of the stock traded hands, compared to its average volume of 110,776. The company’s 50-day moving average is $8.55 and its 200 day moving average is $8.76. RiverNorth/DoubleLine Strategic Opportunity Fund has a 52 week low of $8.11 and a 52 week high of $9.30.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.1003 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 14.36%.

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.