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

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 23.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,325,507 shares of the company’s stock worth $10,538,000 after buying an additional 252,749 shares during the period. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 73,587 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 7.8% during the fourth quarter. Advisors Asset Management Inc. now owns 392,381 shares of the company’s stock worth $3,119,000 after acquiring an additional 28,363 shares during the period. Sit Investment Associates Inc. purchased a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the fourth quarter worth $1,894,000. Finally, Riverbridge Partners LLC raised its stake in shares of 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 acquiring an additional 12,989 shares in the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

OPP traded down $0.04 during mid-day trading on Monday, hitting $7.57. 69,686 shares of the stock were exchanged, compared to its average volume of 92,066. The firm’s fifty day moving average is $7.63 and its two-hundred day moving average is $7.72. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1-year low of $7.47 and a 1-year high of $8.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $0.091 per share. This represents a c) annualized dividend and a dividend yield of 14.4%. The ex-dividend date of this dividend was Wednesday, July 15th.

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.