RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Update

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 111,513 shares, a growth of 142.8% from the April 15th total of 45,935 shares. Based on an average trading volume of 94,853 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 23.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,325,507 shares of the company’s stock worth $10,538,000 after acquiring an additional 252,749 shares in the last quarter. Royal Bank of Canada boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 7.7% during the 4th quarter. Royal Bank of Canada now owns 1,027,527 shares of the company’s stock valued at $8,169,000 after acquiring an additional 73,587 shares during the period. Advisors Asset Management Inc. boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 7.8% during the 4th quarter. Advisors Asset Management Inc. now owns 392,381 shares of the company’s stock valued at $3,119,000 after acquiring an additional 28,363 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 4.2% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 258,894 shares of the company’s stock valued at $2,208,000 after acquiring an additional 10,508 shares during the period. Finally, Sit Investment Associates Inc. purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the 4th quarter valued at about $1,894,000.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Down 1.9%

Shares of OPP traded down $0.15 during midday trading on Friday, reaching $7.66. The company had a trading volume of 73,412 shares, compared to its average volume of 99,407. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1-year low of $7.49 and a 1-year high of $8.82. The firm has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $7.87.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.091 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.3%.

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. Aggregate Bond Index. RiverNorth/DoubleLine Strategic Opportunity Fund, Inc was formed on December 30, 2010 and is domiciled in the United States.