RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Up 113.1% in July

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 122,705 shares, an increase of 113.1% from the June 30th total of 57,580 shares. Based on an average daily volume of 74,487 shares, the short-interest ratio is currently 1.6 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 921.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,525 shares of the company’s stock valued at $30,000 after purchasing an additional 3,180 shares in the last quarter. Raymond James Financial Inc. boosted its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 9.7% in the 2nd quarter. Raymond James Financial Inc. now owns 155,379 shares of the company’s stock valued at $1,328,000 after buying an additional 13,750 shares during the last quarter. Jane Street Group LLC purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the second quarter valued at about $92,000. SeaCrest Wealth Management LLC boosted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 10.3% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 67,604 shares of the company’s stock valued at $567,000 after buying an additional 6,334 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 198.7% during the 3rd quarter. Bank of America Corp DE now owns 4,681 shares of the company’s stock worth $40,000 after acquiring an additional 3,114 shares in the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Performance

Shares of OPP traded down $0.02 on Tuesday, hitting $7.60. 118,849 shares of the stock traded hands, compared to its average volume of 93,352. RiverNorth/DoubleLine Strategic Opportunity Fund has a 1 year low of $7.47 and a 1 year high of $8.82. The stock’s 50 day moving average is $7.63 and its two-hundred day moving average is $7.74.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.091 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 14.4%.

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.