Powell Investment Advisors LLC Invests $146,000 in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP)

Powell Investment Advisors LLC acquired a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,452 shares of the company’s stock, valued at approximately $146,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 9.6% in the third quarter. SeaCrest Wealth Management LLC now owns 53,677 shares of the company’s stock valued at $487,000 after purchasing an additional 4,694 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 143.4% during the third quarter. J.W. Cole Advisors Inc. now owns 100,719 shares of the company’s stock worth $914,000 after buying an additional 59,337 shares during the last quarter. Shaker Financial Services LLC grew its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 46.2% during the third quarter. Shaker Financial Services LLC now owns 114,248 shares of the company’s stock worth $1,037,000 after buying an additional 36,120 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the third quarter worth $523,000. Finally, Stifel Financial Corp lifted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 26.8% in the 3rd quarter. Stifel Financial Corp now owns 27,503 shares of the company’s stock valued at $250,000 after acquiring an additional 5,807 shares during the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

Shares of OPP stock opened at $8.59 on Monday. RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. has a twelve month low of $8.11 and a twelve month high of $9.30. The stock’s fifty day simple moving average is $8.43 and its 200 day simple moving average is $8.71.

RiverNorth/DoubleLine Strategic Opportunity Fund Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a dividend of $0.095 per share. This represents a dividend yield of 13.72%. The ex-dividend date was Wednesday, January 15th.

RiverNorth/DoubleLine Strategic Opportunity Fund 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.