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

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 162,800 shares, a decrease of 67.9% from the November 15th total of 507,400 shares. Based on an average daily trading volume, of 141,000 shares, the short-interest ratio is currently 1.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC grew its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 2.5% during the second quarter. SeaCrest Wealth Management LLC now owns 48,983 shares of the company’s stock worth $424,000 after buying an additional 1,190 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 3.2% in the second quarter. Wedbush Securities Inc. now owns 54,400 shares of the company’s stock valued at $471,000 after purchasing an additional 1,700 shares during the last quarter. Stifel Financial Corp lifted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 26.8% in the third quarter. Stifel Financial Corp now owns 27,503 shares of the company’s stock worth $250,000 after purchasing an additional 5,807 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the third quarter worth $77,000. Finally, Sanctuary Advisors LLC acquired a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the third quarter worth $97,000.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Down 0.2 %

Shares of RiverNorth/DoubleLine Strategic Opportunity Fund stock traded down $0.02 during trading hours on Thursday, hitting $8.62. The company’s stock had a trading volume of 247,840 shares, compared to its average volume of 108,271. RiverNorth/DoubleLine Strategic Opportunity Fund has a 12 month low of $8.11 and a 12 month high of $9.30. The stock has a 50 day moving average of $8.68 and a 200 day moving average of $8.77.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.1003 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 13.96%.

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.