RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Trading Down 1% – Time to Sell?

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP)’s share price traded down 1% during mid-day trading on Thursday . The stock traded as low as $7.61 and last traded at $7.6310. Approximately 39,354 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 93,485 shares. The stock had previously closed at $7.71.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

The company has a 50 day simple moving average of $7.63 and a two-hundred day simple moving average of $7.74.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.091 per share. This represents a c) annualized dividend and a dividend yield of 14.3%. The ex-dividend date is Wednesday, July 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Post Resch Tallon Group Inc. increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 32.2% in the 2nd quarter. Post Resch Tallon Group Inc. now owns 39,418 shares of the company’s stock valued at $304,000 after buying an additional 9,602 shares during the period. CoreCap Advisors LLC boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 24.3% during the 2nd quarter. CoreCap Advisors LLC now owns 18,900 shares of the company’s stock valued at $146,000 after buying an additional 3,689 shares during the period. Gateway Wealth Partners LLC grew its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 113.1% during the 1st quarter. Gateway Wealth Partners LLC now owns 39,226 shares of the company’s stock valued at $301,000 after acquiring an additional 20,816 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 1st quarter valued at $286,000. Finally, Ascentis Independent Advisors acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the first quarter worth $126,000.

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.