RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Sees Large Increase in Short Interest

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 122,705 shares, a growth of 113.1% from the June 30th total of 57,580 shares. Based on an average trading volume of 74,487 shares, the days-to-cover ratio is presently 1.6 days.

RiverNorth/DoubleLine Strategic Opportunity Fund Trading Down 0.4%

Shares of OPP stock traded down $0.03 on Wednesday, reaching $7.57. The company’s stock had a trading volume of 36,292 shares, compared to its average volume of 92,952. The stock’s fifty day simple moving average is $7.63 and its 200-day simple moving average is $7.74. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1 year low of $7.47 and a 1 year high of $8.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.091 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 14.4%.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

A number of large investors have recently made changes to their positions in OPP. Geneos Wealth Management Inc. raised its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 921.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,525 shares of the company’s stock valued at $30,000 after buying an additional 3,180 shares in the last quarter. Raymond James Financial Inc. grew its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 9.7% in the second quarter. Raymond James Financial Inc. now owns 155,379 shares of the company’s stock worth $1,328,000 after acquiring an additional 13,750 shares in the last quarter. Jane Street Group LLC bought a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund during the second quarter worth approximately $92,000. SeaCrest Wealth Management LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 10.3% during the third quarter. SeaCrest Wealth Management LLC now owns 67,604 shares of the company’s stock worth $567,000 after acquiring an additional 6,334 shares during the last quarter. Finally, Bank of America Corp DE raised its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 198.7% during the third quarter. Bank of America Corp DE now owns 4,681 shares of the company’s stock valued at $40,000 after purchasing an additional 3,114 shares during the period.

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.