RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Up 107.2% in January

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 60,100 shares, a growth of 107.2% from the January 15th total of 29,000 shares. Based on an average daily volume of 142,500 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On RiverNorth/DoubleLine Strategic Opportunity Fund

Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 50.7% during the fourth quarter. Wells Fargo & Company MN now owns 215,438 shares of the company’s stock worth $1,797,000 after acquiring an additional 72,462 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 43.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 144,385 shares of the company’s stock valued at $1,204,000 after purchasing an additional 43,666 shares during the period. Raymond James Financial Inc. purchased a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund during the 4th quarter worth about $1,146,000. Strategic Financial Concepts LLC boosted its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 846.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 133,440 shares of the company’s stock worth $1,113,000 after purchasing an additional 119,340 shares during the period. Finally, Absolute Investment Advisers LLC purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the 4th quarter valued at about $1,037,000.

RiverNorth/DoubleLine Strategic Opportunity Fund Trading Up 0.3 %

OPP stock traded up $0.03 during mid-day trading on Thursday, reaching $8.68. The company’s stock had a trading volume of 154,123 shares, compared to its average volume of 105,670. RiverNorth/DoubleLine Strategic Opportunity Fund has a 12 month low of $8.11 and a 12 month high of $9.30. The business’s 50 day moving average price is $8.44 and its 200 day moving average price is $8.71.

RiverNorth/DoubleLine Strategic Opportunity Fund Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a dividend of $0.095 per share. The ex-dividend date was Wednesday, January 15th. This represents a yield of 13.72%.

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.