RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Stock Crosses Below 50 Day Moving Average – Should You Sell?

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) shares passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $7.04 and traded as low as $7.00. RiverNorth/DoubleLine Strategic Opportunity Fund shares last traded at $7.0350, with a volume of 134,911 shares trading hands.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

The firm has a 50-day moving average of $7.04 and a 200-day moving average of $7.54.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a dividend of $0.0910 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 15.5%.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Several institutional investors have recently bought and sold shares of OPP. First Trust Capital Management L.P. bought a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 3rd quarter valued at about $685,000. Kestra Advisory Services LLC increased its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 15.8% in the third quarter. Kestra Advisory Services LLC now owns 66,020 shares of the company’s stock worth $457,000 after purchasing an additional 9,000 shares during the last quarter. Total Wealth Planning & Management Inc. lifted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 12.2% in the third quarter. Total Wealth Planning & Management Inc. now owns 51,661 shares of the company’s stock worth $357,000 after buying an additional 5,603 shares in the last quarter. Shaker Financial Services LLC lifted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 25.7% in the third quarter. Shaker Financial Services LLC now owns 60,800 shares of the company’s stock worth $421,000 after buying an additional 12,412 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 54.3% during the third quarter. CoreCap Advisors LLC now owns 29,154 shares of the company’s stock valued at $202,000 after buying an additional 10,254 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.