Short Interest in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Declines By 49.7%

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 54,684 shares, a drop of 49.7% from the May 14th total of 108,674 shares. Based on an average trading volume of 102,415 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 23.6% during the fourth 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 in the last quarter. Royal Bank of Canada grew its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 7.7% in the fourth quarter. Royal Bank of Canada now owns 1,027,527 shares of the company’s stock worth $8,169,000 after purchasing an additional 73,587 shares in the last quarter. Advisors Asset Management Inc. grew its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 7.8% in the fourth quarter. Advisors Asset Management Inc. now owns 392,381 shares of the company’s stock worth $3,119,000 after purchasing an additional 28,363 shares in the last quarter. Sit Investment Associates Inc. acquired a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the fourth quarter worth about $1,894,000. Finally, Riverbridge Partners LLC grew 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 worth $1,819,000 after purchasing an additional 12,989 shares in the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

Shares of RiverNorth/DoubleLine Strategic Opportunity Fund stock opened at $7.64 on Friday. The business has a 50-day moving average of $7.72 and a 200-day moving average of $7.80. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1-year low of $7.49 and a 1-year high of $8.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.091 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 14.3%.

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.