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

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 21,800 shares, a drop of 59.4% from the June 15th total of 53,700 shares. Based on an average daily volume of 78,200 shares, the short-interest ratio is currently 0.3 days.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

Shares of OPP traded up $0.03 during midday trading on Thursday, reaching $8.76. The stock had a trading volume of 69,707 shares, compared to its average volume of 92,545. The company’s 50-day moving average is $8.58 and its 200 day moving average is $8.44. RiverNorth/DoubleLine Strategic Opportunity Fund has a 12-month low of $7.26 and a 12-month high of $8.83.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.1003 per share. This represents a $1.20 dividend on an annualized basis and a yield of 13.74%. The ex-dividend date of this dividend is Friday, September 13th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Significant Wealth Partners LLC bought a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter worth $1,594,000. Raymond James & Associates raised its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 164.8% in the 4th quarter. Raymond James & Associates now owns 110,163 shares of the company’s stock worth $921,000 after purchasing an additional 68,565 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 1st quarter worth about $483,000. Riverbridge Partners LLC bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 1st quarter valued at about $309,000. Finally, Matisse Capital raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 21.9% in the fourth quarter. Matisse Capital now owns 195,000 shares of the company’s stock worth $1,630,000 after buying an additional 35,000 shares in the last quarter.

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.