OPP
RiverNorth/DoubleLine Strategic Opportunity FundOPP
OPP
About: RiverNorth/DoubleLine Strategic Opportunity Fund Inc is a closed-end management investment company. The company's investment objective is to seek current income and overall total return.
0
Funds holding %
of 7,363 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
1,300% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 1
27% more funds holding
Funds holding: 44 [Q3] → 56 (+12) [Q4]
15% more repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 13
9% more capital invested
Capital invested by funds: $46.9M [Q3] → $51.3M (+$4.39M) [Q4]
3.32% more ownership
Funds ownership: 22.49% [Q3] → 25.81% (+3.32%) [Q4]
Research analyst outlook
We haven’t received any recent analyst ratings for OPP.
Financial journalist opinion
Negative
Seeking Alpha
1 week ago
Very Bad News For Closed-End Funds
Closed-end funds offer unique opportunities due to their discount/premium mechanisms, allowing share prices to deviate from net asset value per share in a wild manner. In general, CEFs often provide diverse exposure across equity and fixed-income portfolios, and they even offer exposure to hybrid portfolios, but also allowing for sector-specific exposure. One important note is that not all premiums or discounts indicate a buying or selling opportunity; instead, it can make more sense to examine relative value over historical periods.
Positive
Seeking Alpha
1 month ago
OPP-C: A 6.00% Term Preferred IPO From RiverNorth/DoubleLine Strategic Opportunity Fund
RiverNorth/DoubleLine Strategic Opportunity Fund issued a new 6.00% term preferred stock (OPP-C) with a $10 par value. OPP-C offers a strong credit quality, backed by a large cushion from common share distributions, making it a relatively safe investment for up to three years. The fund's capital structure and asset coverage covenants further enhance the security of OPP-C, despite its small issue size potentially limiting large positions.
Neutral
Business Wire
2 months ago
RiverNorth Closed-End Funds Declare Monthly Distributions
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the reset distribution rates have been proposed for the calendar year 2025, as detailed below. Further, the Funds have established the distribution dates for January, February, and March 2025. The payment of the distributions are subject to Board approval. Ex Date Record Date Payable Date January 15, 2025 January 15, 2025 January 31, 2025 February 14, 2025 Februa.
Neutral
Business Wire
3 months ago
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Non-Transferable Rights Offering for Common and Preferred Stock
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) today announced the final results of its inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund (the “Offering”). The Fund will issue a total of 838,412 new shares of common stock and 419,206 new shares of Series C Preferred Stock as a resu.
Neutral
Business Wire
3 months ago
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Preliminary Results of Non-transferable Rights Offering for Common and Preferred Stock
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) today announced the preliminary results of its inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund (the “Offering”) that expired on November 25, 2024 (the “Expiration Date”). In the Offering, the Fund received subscription requests for 8.
Neutral
Business Wire
3 months ago
Reminder: RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Non-Transferable Rights Offering for Common and Preferred Stock
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--As previously announced in press releases dated October 21, 2024 and November 1, 2024 (the “Prior Announcements”), the Board of Directors of the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) has authorized and set the terms of an offering to the Fund's stockholders of inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “S.
Positive
Seeking Alpha
4 months ago
OPP: Rights Offering Presents Opportunity To Collect High Yield Income At Discounted Price
OPP offers a 13.7% yield and trades at a discount to NAV of nearly -7%. A rights offering will allow shareholders to exercise six rights to buy two shares of common stock and one share of Series C Preferred stock. While I consider OPP a good CEF for income investors, I believe that the RO will offer some potential buying opportunities as investors fear dilution to the NAV.
Positive
Seeking Alpha
4 months ago
Preferreds Weekly Review: Agency Mortgage REIT Results Support Preferreds
We take a look at the action in preferreds and baby bonds through the fourth week of October and highlight some of the key themes we are watching. Preferred stocks fell around 1% due to rising Treasury yields, but resilient economy views kept credit spreads near 5-year lows. Agency mortgage REITs' Q3 results show rising book value and stable leverage.
Positive
Seeking Alpha
4 months ago
Preferreds Weekly Review: Agency Mortgage REIT Results Support Preferreds
We take a look at the action in preferreds and baby bonds through the fourth week of October and highlight some of the key themes we are watching. Preferred stocks fell around 1% due to rising Treasury yields, but resilient economy views kept credit spreads near 5-year lows. Agency mortgage REITs' Q3 results show rising book value and stable leverage.
Neutral
Seeking Alpha
4 months ago
CEF Weekly Review: Invesco Has A Do-Over
We review the CEF market valuation and performance through the fourth week of October and highlight recent market action. Most CEF sectors were down this week while discounts were mixed. Invesco's CMBS CEF IHTA is set for liquidation in December 2024, with NAV performance looking better than sister fund IHIT last year.
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