RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) Shares Down 0.6% – Should You Sell?

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) shares traded down 0.6% on Wednesday . The stock traded as low as $7.95 and last traded at $7.97. 219,717 shares changed hands during trading, an increase of 117% from the average session volume of 101,344 shares. The stock had previously closed at $8.02.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

The business’s fifty day simple moving average is $8.27 and its 200-day simple moving average is $8.44.

RiverNorth/DoubleLine Strategic Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 14.3%.

Institutional Investors Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its position 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 worth $30,000 after buying an additional 3,180 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the third quarter valued at approximately $38,000. Bank of America Corp DE lifted its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 198.7% in the third 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 during the period. PNC Financial Services Group Inc. boosted its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 58.0% in the second quarter. PNC Financial Services Group Inc. now owns 7,900 shares of the company’s stock valued at $68,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the second quarter valued at $92,000.

RiverNorth/DoubleLine Strategic Opportunity Fund Company Profile

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.