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)’s share price 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.

RiverNorth/DoubleLine Strategic Opportunity Fund Trading Down 1.5%

The firm has a fifty day moving average price of $7.04 and a two-hundred day moving average price 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 issued a $0.0910 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 15.5%. The ex-dividend date of this dividend is Tuesday, December 15th.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 186,728 shares of the company’s stock valued at $1,442,000 after buying an additional 10,687 shares in the last quarter. Baird Financial Group Inc. increased its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 2.8% in the 2nd quarter. Baird Financial Group Inc. now owns 127,126 shares of the company’s stock worth $981,000 after acquiring an additional 3,507 shares in the last quarter. First Trust Capital Management L.P. purchased a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the 3rd quarter worth approximately $685,000. Kestra Advisory Services LLC raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 15.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 66,020 shares of the company’s stock worth $457,000 after acquiring an additional 9,000 shares during the period. Finally, Shaker Financial Services LLC raised its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 25.7% during the 3rd quarter. Shaker Financial Services LLC now owns 60,800 shares of the company’s stock worth $421,000 after acquiring an additional 12,412 shares during the period.

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.