RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Down 44.5% in July

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 68,071 shares, a drop of 44.5% from the July 15th total of 122,705 shares. Based on an average daily volume of 79,594 shares, the short-interest ratio is presently 0.9 days.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

Shares of RiverNorth/DoubleLine Strategic Opportunity Fund stock traded down $0.04 on Monday, reaching $7.57. 69,686 shares of the company were exchanged, compared to its average volume of 92,066. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1-year low of $7.47 and a 1-year high of $8.82. The stock’s 50 day moving average price is $7.63 and its 200-day moving average price is $7.72.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were paid a $0.091 dividend. The ex-dividend date was Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 14.4%.

Institutional Investors Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 23.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,325,507 shares of the company’s stock valued at $10,538,000 after acquiring an additional 252,749 shares during the last quarter. Sit Investment Associates Inc. purchased a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund during the fourth quarter worth approximately $1,894,000. 1607 Capital Partners LLC boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 453.6% in 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 in the last quarter. NewEdge Advisors LLC boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 297.9% in the third quarter. NewEdge Advisors LLC now owns 182,225 shares of the company’s stock valued at $1,554,000 after purchasing an additional 136,425 shares in the last quarter. Finally, Yakira Capital Management Inc. purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter valued at approximately $752,000.

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.