RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Shares Down 1% – Here’s Why

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was down 1% on Friday . The stock traded as low as $7.49 and last traded at $7.56. Approximately 114,659 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 99,598 shares. The stock had previously closed at $7.64.

RiverNorth/DoubleLine Strategic Opportunity Fund Trading Down 1.0%

The firm’s 50-day simple moving average is $7.72 and its 200 day simple moving average is $7.82.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.091 dividend. This represents a c) dividend on an annualized basis and a yield of 14.4%. The ex-dividend date is Monday, June 15th.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Gateway Wealth Partners LLC boosted its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 113.1% during the 1st quarter. Gateway Wealth Partners LLC now owns 39,226 shares of the company’s stock worth $301,000 after acquiring an additional 20,816 shares during the last quarter. Fifth Third Bancorp acquired a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the first quarter worth $286,000. Ascentis Independent Advisors bought a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the first quarter worth $126,000. PFG Investments LLC boosted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 1.0% during the first quarter. PFG Investments LLC now owns 137,792 shares of the company’s stock worth $1,057,000 after purchasing an additional 1,368 shares in the last quarter. Finally, Riverbridge Partners LLC grew its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 5.8% in the 1st quarter. Riverbridge Partners LLC now owns 237,095 shares of the company’s stock valued at $1,819,000 after buying an additional 12,989 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.