Short Interest in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Decreases By 36.6%

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 47,659 shares, a drop of 36.6% from the August 15th total of 75,156 shares. Based on an average daily trading volume, of 92,932 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Hedge funds have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. bought a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 4th quarter valued at about $1,894,000. Riverbridge Partners LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 5.8% in the first quarter. Riverbridge Partners LLC now owns 237,095 shares of the company’s stock valued at $1,819,000 after purchasing an additional 12,989 shares in the last quarter. NewEdge Advisors LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 6.1% in the second quarter. NewEdge Advisors LLC now owns 186,728 shares of the company’s stock valued at $1,442,000 after purchasing an additional 10,687 shares in the last quarter. 1607 Capital Partners LLC raised 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 worth $1,416,000 after purchasing an additional 145,973 shares during the period. Finally, PFG Investments LLC raised its holdings 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 worth $1,057,000 after purchasing an additional 1,368 shares during the period.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Down 0.7%

Shares of OPP stock opened at $7.12 on Friday. The stock’s fifty day simple moving average is $7.53 and its 200 day simple moving average is $7.63. RiverNorth/DoubleLine Strategic Opportunity Fund has a one year low of $7.01 and a one year high of $8.64.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a $0.091 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 15.3%.

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.