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

Absolute Investment Advisers LLC purchased a new position in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 124,385 shares of the company’s stock, valued at approximately $1,037,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OPP. Shaker Financial Services LLC grew its holdings in RiverNorth/DoubleLine Strategic Opportunity Fund by 46.2% during the 3rd quarter. Shaker Financial Services LLC now owns 114,248 shares of the company’s stock valued at $1,037,000 after purchasing an additional 36,120 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of 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 valued at $914,000 after buying an additional 59,337 shares during the period. SeaCrest Wealth Management LLC grew its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 19.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 64,038 shares of the company’s stock valued at $534,000 after buying an additional 10,361 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund in the third quarter worth approximately $523,000. Finally, PFG Investments LLC lifted its stake in shares of RiverNorth/DoubleLine Strategic Opportunity Fund by 4.7% during the 4th quarter. PFG Investments LLC now owns 38,962 shares of the company’s stock worth $325,000 after acquiring an additional 1,753 shares during the last quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund Stock Up 0.4 %

Shares of RiverNorth/DoubleLine Strategic Opportunity Fund stock opened at $8.54 on Monday. 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, Inc. has a 52 week low of $8.11 and a 52 week high of $9.30.

RiverNorth/DoubleLine Strategic Opportunity Fund Cuts Dividend

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

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.