Short Interest in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Grows By 596.3%

by · The Markets Daily

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 454,700 shares, a growth of 596.3% from the October 15th total of 65,300 shares. Based on an average daily trading volume, of 116,900 shares, the short-interest ratio is presently 3.9 days.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Down 2.2 %

Shares of NYSE OPP traded down $0.19 during trading hours on Tuesday, hitting $8.55. The company’s stock had a trading volume of 275,542 shares, compared to its average volume of 101,777. RiverNorth/DoubleLine Strategic Opportunity Fund has a 12 month low of $7.78 and a 12 month high of $9.30. The business has a 50-day simple moving average of $8.95 and a 200-day simple moving average of $8.77.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.1003 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.08%.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in OPP. SeaCrest Wealth Management LLC increased its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 9.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 53,677 shares of the company’s stock valued at $487,000 after purchasing an additional 4,694 shares during the period. CoreCap Advisors LLC bought a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the second quarter worth about $301,000. J.W. Cole Advisors Inc. lifted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 122.7% in the second quarter. J.W. Cole Advisors Inc. now owns 41,382 shares of the company’s stock worth $358,000 after buying an additional 22,800 shares during the period. PFG Investments LLC lifted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 48.1% in the second quarter. PFG Investments LLC now owns 82,966 shares of the company’s stock worth $718,000 after buying an additional 26,946 shares during the period. Finally, Wedbush Securities Inc. boosted its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 3.2% during the 2nd quarter. Wedbush Securities Inc. now owns 54,400 shares of the company’s stock valued at $471,000 after acquiring an additional 1,700 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.

Further Reading