RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Trading Up 0.3% – Time to Buy?

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) shares traded up 0.3% on Tuesday . The stock traded as high as $7.92 and last traded at $7.9050. 77,187 shares changed hands during trading, a decline of 28% from the average session volume of 107,686 shares. The stock had previously closed at $7.88.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Up 0.3%

The company has a fifty day moving average price of $7.90 and a 200-day moving average price of $8.25.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.091 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 13.8%.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Several institutional investors have recently made changes to their positions in OPP. Geneos Wealth Management Inc. boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 921.7% during the first quarter. Geneos Wealth Management Inc. now owns 3,525 shares of the company’s stock worth $30,000 after buying an additional 3,180 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the third quarter worth about $38,000. Bank of America Corp DE raised its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 198.7% in the third quarter. Bank of America Corp DE now owns 4,681 shares of the company’s stock worth $40,000 after acquiring an additional 3,114 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 58.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,900 shares of the company’s stock worth $68,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 4th quarter valued at about $88,000.

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