RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Shares Down 1% – What’s Next?

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) shares dropped 1% during trading on Friday . The stock traded as low as $7.49 and last traded at $7.56. Approximately 114,659 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 99,598 shares. The stock had previously closed at $7.64.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

The company has a 50 day moving average price of $7.72 and a 200 day moving average price of $7.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.091 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 14.4%.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

Several large investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 1.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 68,904 shares of the company’s stock valued at $542,000 after purchasing an additional 1,300 shares during 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 worth $1,057,000 after buying an additional 1,368 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 3.5% in the 4th quarter. Wedbush Securities Inc. now owns 62,432 shares of the company’s stock worth $496,000 after buying an additional 2,132 shares during the last quarter. Powell Investment Advisors LLC boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 11.7% in the 3rd quarter. Powell Investment Advisors LLC now owns 24,446 shares of the company’s stock worth $209,000 after buying an additional 2,557 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 198.7% in the 3rd quarter. Bank of America Corp DE now owns 4,681 shares of the company’s stock worth $40,000 after buying an additional 3,114 shares during the last quarter.

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.