RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Stock Falls 0.1% – Here’s Why

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) shares traded down 0.1% during trading on Friday. The stock traded as low as $6.84 and last traded at $6.87. Approximately 44,304 shares changed hands during trading, a decline of 55% from the average session volume of 97,778 shares. The stock had previously closed at $6.88.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

The firm has a 50 day simple moving average of $7.16 and a two-hundred day simple moving average of $7.50.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.0910 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 15.9%.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Riverbridge Partners LLC raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 5.8% during the first quarter. Riverbridge Partners LLC now owns 237,095 shares of the company’s stock worth $1,819,000 after acquiring an additional 12,989 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 186,728 shares of the company’s stock valued at $1,442,000 after purchasing an additional 10,687 shares in the last quarter. PFG Investments LLC boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 1.0% in the 1st quarter. PFG Investments LLC now owns 137,792 shares of the company’s stock valued at $1,057,000 after purchasing an additional 1,368 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 2.8% in the 2nd quarter. Baird Financial Group Inc. now owns 127,126 shares of the company’s stock valued at $981,000 after purchasing an additional 3,507 shares in the last quarter. Finally, Shaker Financial Services LLC grew its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 25.7% during the 3rd quarter. Shaker Financial Services LLC now owns 60,800 shares of the company’s stock valued at $421,000 after purchasing an additional 12,412 shares during the last quarter.

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.