RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Stock Price Up 0.4% – Time to Buy?

by · The Cerbat Gem

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP – Get Free Report)’s share price rose 0.4% during mid-day trading on Monday . The stock traded as high as $7.96 and last traded at $7.9350. Approximately 118,956 shares traded hands during trading, an increase of 6% from the average daily volume of 112,322 shares. The stock had previously closed at $7.90.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

The firm’s fifty day moving average price is $7.96 and its 200 day moving average price is $8.32.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.091 dividend. The ex-dividend date is Monday, March 16th. This represents a c) annualized dividend and a yield of 13.8%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 136.7% in the third quarter. Advisors Asset Management Inc. now owns 364,018 shares of the company’s stock worth $3,105,000 after purchasing an additional 210,203 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 4.2% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 258,894 shares of the company’s stock valued at $2,208,000 after buying an additional 10,508 shares in the last quarter. International Assets Investment Management LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 14.1% in the 3rd quarter. International Assets Investment Management LLC now owns 193,429 shares of the company’s stock worth $1,650,000 after acquiring an additional 23,830 shares during the last quarter. NewEdge Advisors LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 297.9% in the 3rd quarter. NewEdge Advisors LLC now owns 182,225 shares of the company’s stock worth $1,554,000 after acquiring an additional 136,425 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 9.7% during the 2nd quarter. Raymond James Financial Inc. now owns 155,379 shares of the company’s stock worth $1,328,000 after acquiring an additional 13,750 shares in the last quarter.

About RiverNorth/DoubleLine Strategic Opportunity Fund

(Get Free Report)

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.

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