RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Sees Large Decrease in Short Interest

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

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Down 0.8%

NYSE OPP traded down $0.06 during trading on Friday, hitting $7.12. The stock had a trading volume of 30,862 shares, compared to its average volume of 93,775. RiverNorth/DoubleLine Strategic Opportunity Fund has a one year low of $7.01 and a one year high of $8.64. The stock has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $7.63.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

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

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 6.1% during 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 during the period. Baird Financial Group Inc. grew its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 2.8% during the 2nd quarter. Baird Financial Group Inc. now owns 127,126 shares of the company’s stock worth $981,000 after buying an additional 3,507 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 2nd quarter worth $332,000. Advisory Solutions Group LLC bought a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 2nd quarter worth $105,000. Finally, Almitas Capital LLC purchased a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the second quarter valued at $112,000.

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.