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

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP)’s stock price shot up 0.1% during mid-day trading on Monday . The stock traded as high as $7.88 and last traded at $7.8450. 71,840 shares traded hands during trading, a decline of 28% from the average session volume of 99,689 shares. The stock had previously closed at $7.84.

RiverNorth/DoubleLine Strategic Opportunity Fund Trading Down 0.3%

The firm’s fifty day moving average price is $7.74 and its 200-day moving average price is $7.87.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.091 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 14.1%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 1.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 68,904 shares of the company’s stock valued at $542,000 after acquiring an additional 1,300 shares during the period. PFG Investments LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 1.0% in the first quarter. PFG Investments LLC now owns 137,792 shares of the company’s stock valued at $1,057,000 after acquiring an additional 1,368 shares during the period. Wedbush Securities Inc. increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 3.5% in the fourth quarter. Wedbush Securities Inc. now owns 62,432 shares of the company’s stock valued at $496,000 after acquiring an additional 2,132 shares during the period. Powell Investment Advisors LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 11.7% in the third quarter. Powell Investment Advisors LLC now owns 24,446 shares of the company’s stock valued at $209,000 after acquiring an additional 2,557 shares during the period. Finally, Bank of America Corp DE increased its stake in 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 valued at $40,000 after acquiring 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.