RiverNorth/DoubleLine Strategic Opp Fund Stock Price, News & Analysis

RiverNorth Opportunities Fund and RiverNorth/DoubleLine Strategic Opportunity Fund have announced their preferred dividend distributions for the first quarter of 2025. The dividends will be paid on February 14, 2025, with an ex-date and record date of February 3, 2025.

The distributions include: $0.37500 per share for RiverNorth Opportunities Fund's 6.000% Series A Perpetual Preferred Stock (RIVPRA), $0.27344 per share for RiverNorth/DoubleLine's 4.375% Series A Cumulative Preferred Stock (OPPPRA), $0.29688 per share for the 4.750% Series B Cumulative Preferred Stock (OPPPRB), and $0.12500 per share for the 6.000% Series C Term Preferred Stock (OPPPRC). The Series C distribution represents a partial payment covering the period from December 2, 2024, through February 14, 2025.

RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) has completed its non-transferable rights offering, resulting in the issuance of 838,412 new common shares at $8.42 per share and 419,206 new Series C Preferred Stock shares at $10 per share. The offering generated gross proceeds of approximately $11.2 million. The new shares are expected to be issued around December 2, 2024. The Series C Preferred Stock, offering a 6.00% yield with a 3-year term, is pending NYSE American listing under symbol 'OPPPRC'. As of September 30, 2024, the Fund had approximately $341 million in total managed assets.

RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced preliminary results of its non-transferable rights offering. The Fund received subscription requests for 838,486 shares of common stock and 419,243 shares of Series C Preferred Stock. The offering is expected to generate gross proceeds of approximately $11.2 million. The final subscription price was set at $8.42 per common share (90% of NAV) and $10 per Series C Preferred Stock share. New shares are expected to be issued around December 2, 2024, with Series C Preferred Stock trading under symbol OPPPRC starting December 3, 2024.

RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) has announced a non-transferable rights offering expiring on November 25, 2024. Record Date Stockholders (as of November 5, 2024) will receive one right for each common share held. For every six rights, holders can purchase two new common shares and one new Series C Preferred Stock share. The common stock subscription price will be 90% of NAV or 95% of market price (whichever is higher), while preferred shares are priced at $10. Stockholders who fully exercise their rights can subscribe for additional shares subject to limitations. The Fund may increase available shares by up to 50% of primary subscription.

RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) has announced a non-transferable rights offering for common and preferred stock. Record Date Stockholders as of November 5, 2024, will receive one right for each common share held. For every six rights, holders can purchase two new common shares and one new share of 6.00% Series C Preferred Stock. The subscription price for common shares will be at least 90% of NAV or 95% of market price, whichever is higher, while preferred shares are priced at $10. The offering expires on November 25, 2024. The Fund had approximately $341 million in total managed assets as of September 30, 2024.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP) announces a non-transferable rights offering for common and preferred stock. The offering allows stockholders of record as of November 5, 2024, to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock. For every six rights held, stockholders can buy two new common shares and one new preferred share. The subscription price for common stock will be based on a formula, while preferred stock will be priced at $10 per share. The subscription period expires on November 25, 2024. The Fund had approximately $341 million in total managed assets and 23.0 million shares of common stock outstanding as of September 30, 2024.

RiverNorth Opportunities Fund, RiverNorth/DoubleLine Strategic Opportunity Fund, and RiverNorth Capital and Income Fund have declared preferred dividends for Q3 2024. The ex-date, record date, and payable date are set for August 1, August 1, and August 15, 2024, respectively. Dividend rates range from 4.375% to 6.000% depending on the fund and series. RiverNorth Capital Management, with $5.0 billion in assets under management as of June 30, 2024, specializes in opportunistic investment strategies in niche markets. The distributions are based on a $25.00 per share liquidation preference. Investors are advised to consult the prospectus and tax professionals for guidance.