RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Stock Falls 0.1% – Here’s Why

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) dropped 0.1% on Friday. The company traded as low as $6.84 and last traded at $6.87. 44,304 shares changed hands during trading, a decline of 55% from the average session volume of 97,778 shares. The stock had previously closed at $6.88.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

The firm’s fifty day moving average price is $7.16 and its 200-day moving average price is $7.50.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a dividend of $0.0910 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.09 dividend on an annualized basis and a yield of 15.9%.

Hedge Funds Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Several large investors have recently bought and sold shares of OPP. Global Retirement Partners LLC acquired a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the second quarter valued at about $52,000. Ausdal Financial Partners Inc. acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the second quarter valued at approximately $99,000. Advisory Solutions Group LLC acquired a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the second quarter valued at approximately $105,000. Almitas Capital LLC bought a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the 2nd quarter valued at approximately $112,000. Finally, Perennial Investment Advisors LLC bought a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the 2nd quarter valued at approximately $126,000.

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.