Absolute Investment Advisers LLC Makes New Investment in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP)

Absolute Investment Advisers LLC purchased a new position in shares of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 124,385 shares of the company’s stock, valued at approximately $1,037,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund in the third quarter worth $77,000. Sanctuary Advisors LLC purchased a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund during the 3rd quarter worth approximately $97,000. Stifel Financial Corp grew its holdings in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 26.8% in the 3rd quarter. Stifel Financial Corp now owns 27,503 shares of the company’s stock worth $250,000 after acquiring an additional 5,807 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the 3rd quarter worth approximately $278,000. Finally, PFG Investments LLC increased its stake in RiverNorth/DoubleLine Strategic Opportunity Fund by 4.7% in the 4th quarter. PFG Investments LLC now owns 38,962 shares of the company’s stock valued at $325,000 after purchasing an additional 1,753 shares in the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Price Performance

RiverNorth/DoubleLine Strategic Opportunity Fund stock opened at $8.54 on Monday. RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $9.30. The stock’s fifty day moving average is $8.42 and its two-hundred day moving average is $8.71.

RiverNorth/DoubleLine Strategic Opportunity Fund Cuts Dividend

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

RiverNorth/DoubleLine Strategic Opportunity Fund 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.