RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) Short Interest Up 596.3% in October

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 454,700 shares, a growth of 596.3% from the October 15th total of 65,300 shares. Based on an average daily trading volume, of 116,900 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Trading of RiverNorth/DoubleLine Strategic Opportunity Fund

Hedge funds have recently made changes to their positions in the business. J.W. Cole Advisors Inc. boosted its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 143.4% during the third quarter. J.W. Cole Advisors Inc. now owns 100,719 shares of the company’s stock worth $914,000 after buying an additional 59,337 shares during the period. Prime Capital Investment Advisors LLC bought a new position in RiverNorth/DoubleLine Strategic Opportunity Fund during the 3rd quarter valued at about $523,000. Shaker Financial Services LLC raised its position in RiverNorth/DoubleLine Strategic Opportunity Fund by 46.2% in the 3rd quarter. Shaker Financial Services LLC now owns 114,248 shares of the company’s stock worth $1,037,000 after purchasing an additional 36,120 shares during the period. CoreCap Advisors LLC bought a new stake in RiverNorth/DoubleLine Strategic Opportunity Fund in the second quarter worth about $301,000. Finally, PFG Investments LLC boosted its position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 48.1% during the second quarter. PFG Investments LLC now owns 82,966 shares of the company’s stock valued at $718,000 after buying an additional 26,946 shares during the period.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Down 2.2 %

Shares of NYSE OPP traded down $0.19 during midday trading on Tuesday, reaching $8.55. 275,542 shares of the stock traded hands, compared to its average volume of 101,777. The company’s 50 day moving average is $8.95 and its 200 day moving average is $8.77. RiverNorth/DoubleLine Strategic Opportunity Fund has a one year low of $7.78 and a one year high of $9.30.

RiverNorth/DoubleLine Strategic Opportunity Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.1003 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.08%.

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.