Short Interest in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Declines By 49.7%

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 54,684 shares, a drop of 49.7% from the May 14th total of 108,674 shares. Based on an average daily volume of 102,415 shares, the days-to-cover ratio is presently 0.5 days.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

NYSE:OPP opened at $7.64 on Friday. The business’s 50-day moving average is $7.72 and its two-hundred day moving average is $7.80. RiverNorth/DoubleLine Strategic Opportunity Fund has a 12 month low of $7.49 and a 12 month high of $8.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.091 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 14.3%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PFG Investments LLC raised its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 218.4% in the fourth quarter. PFG Investments LLC now owns 136,424 shares of the company’s stock valued at $1,085,000 after purchasing an additional 93,573 shares during the period. Advisors Asset Management Inc. raised its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 136.7% in the third quarter. Advisors Asset Management Inc. now owns 364,018 shares of the company’s stock valued at $3,105,000 after purchasing an additional 210,203 shares during the period. Riverbridge Partners LLC raised its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 262.6% in the fourth quarter. Riverbridge Partners LLC now owns 224,106 shares of the company’s stock valued at $1,782,000 after purchasing an additional 162,298 shares during the period. Sit Investment Associates Inc. purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter valued at about $1,894,000. Finally, Yakira Capital Management Inc. purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter valued at about $752,000.

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.