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

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Yakira Capital Management Inc. acquired a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the 4th quarter valued at about $752,000. PFG Investments LLC increased its holdings in shares of 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 buying an additional 93,573 shares in the last quarter. 1607 Capital Partners LLC lifted its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 453.6% during the fourth quarter. 1607 Capital Partners LLC now owns 178,157 shares of the company’s stock valued at $1,416,000 after purchasing an additional 145,973 shares during the last quarter. Sit Investment Associates Inc. purchased a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund during the fourth quarter valued at about $1,894,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 921.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,525 shares of the company’s stock valued at $30,000 after acquiring an additional 3,180 shares in the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Down 0.3%

Shares of NYSE:OPP traded down $0.02 during trading on Tuesday, hitting $7.60. 118,849 shares of the company traded hands, compared to its average volume of 93,352. The business’s fifty day moving average is $7.63 and its 200-day moving average is $7.74. RiverNorth/DoubleLine Strategic Opportunity Fund has a one year low of $7.47 and a one year high of $8.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 14.4%.

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.