Welcome to our dedicated page for RiverNorth/DoubleLine Strategic Opp Fund news (Ticker: OPP), a resource for investors and traders seeking the latest updates and insights on RiverNorth/DoubleLine Strategic Opp Fund stock.
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP) generates a steady stream of formal announcements that are relevant to income-focused and closed-end fund investors. As a closed-end management investment company with an objective of seeking current income and overall total return, OPP’s news often centers on its capital structure, preferred share distributions, and stockholder actions.
A significant portion of OPP-related news consists of preferred dividend declarations for its listed preferred stock series, including 4.375% Series A Cumulative Preferred Stock (OPPPRA), 4.750% Series B Cumulative Preferred Stock (OPPPRB), and 6.000% Series C Term Preferred Stock (OPPPRC). These releases detail ex-dates, record dates, payable dates, and distribution amounts per share, as well as explanations of how distributions may be sourced from income, capital gains, or return of capital.
Another recurring news theme involves rights offerings and capital-raising activity. In a described transferable rights offering, OPP reported preliminary subscription results, the number of new common shares expected to be issued, and the formula used to determine the final subscription price based on a percentage of net asset value per share. Such announcements provide insight into how the fund raises additional capital and how new shares are priced relative to net asset value.
OPP also appears in joint communications with other RiverNorth funds regarding preferred dividends and governance matters. These releases often include background on RiverNorth Capital Management, LLC as an independent investment manager specializing in opportunistic strategies in closed-end funds. For investors tracking OPP, this news page offers access to official updates on distributions, rights offerings, and other fund-level developments that can influence the fund’s income profile and share structure.
By reviewing OPP news in one place, investors can follow patterns in preferred dividend declarations, monitor capital-raising events, and see how the fund communicates risk disclosures and tax-related information around its distributions.
The RiverNorth Closed-End Funds have appointed Lisa Mougin as an independent director and Jerry Raio as a trustee, effective immediately. Mougin, previously President and COO of TIFIN, brings extensive experience from ALPS Fund Services. Raio has over 15 years in equity capital markets, serving as President and CEO of Arbor Lane Advisors. Additionally, John S. Oakes has retired after 12 years of service. RiverNorth, founded in 2000, manages $4.9 billion in assets and specializes in opportunistic investment strategies.
RiverNorth Opportunities Fund, Inc. (NYSE:OPP), RiverNorth/DoubleLine Strategic Opportunity Fund, Inc., and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q4 2022. Key details include:
- Ex Date: November 1, 2022
- Record Date: November 2, 2022
- Payable Date: November 15, 2022
The dividends announced are $0.37500 for RIVPRA, $0.27344 for OPPPRA, $0.29688 for OPPPRB, and $0.36719 for RMPL, reflecting ongoing financial health and income generation for shareholders.
RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE:OPP) announced the final results of its transferable rights offering, which closed on September 23, 2022. A total of 3,508,633 new shares will be issued at a subscription price of $9.70 per share, yielding approximately $34.0 million in gross proceeds before expenses. As of August 31, 2022, the Fund managed about $346 million in total assets with 19.5 million shares outstanding. The Fund’s investment focus is on current income and total return.
The RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced the preliminary results of its rights offering, which expired on September 23, 2022. The Fund received subscription requests for 3,508,633 shares, which will generate approximately $34.0 million in gross proceeds. The final subscription price was set at $9.70 per share, based on 92.5% of the net asset value (NAV) of $10.49. Investors will not receive record date shares for monthly distributions in August or September 2022. Final results will be announced on September 27, 2022.
Summary not available.
RiverNorth/DoubleLine Strategic Opportunity Fund has declared preferred dividends for Q3 2022. Key dates are: Ex-Dividend: August 1, 2022, Record: August 2, 2022, Payable: August 15, 2022. The distributions are $0.27344 for 4.375% Series A and $0.29688 for 4.75% Series B Cumulative Preferred Stock. RiverNorth Specialty Finance Corporation's 5.875% Series A Term Preferred Stock will have a distribution of $0.36719. The fund manages $5.7 billion in assets and focuses on opportunistic investment strategies.
RiverNorth Capital Management and TrueMark Investments have launched the RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ), which is now trading on the NYSE. This actively managed fund focuses on investing in pre-merger SPAC securities, enabling investors to capitalize on potential discounts and interest income. CEO Mike Loukas highlights SPCZ as the first pre-merger SPAC ETF to utilize leverage strategically. The fund aims for positive absolute returns while managing risks associated with SPAC investments, including operating history and leverage risks.
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE:OPP) has declared preferred dividends for Q2 2022. The Ex Date is May 2, 2022, Record Date is May 3, 2022, and Payment Date is May 16, 2022. Preferred stock distributions include $0.27344 for 4.375% Series A, $0.29688 for 4.75% Series B, and $0.36719 for RiverNorth Specialty Finance Corporation's Series A Term Preferred. These amounts are based on a $25 Liquidation Preference per share. Investors are advised that distributions may come from various income sources and should consult tax professionals for guidance.
RiverNorth/DoubleLine Strategic Opportunity Fund has declared preferred dividends for Q1 2022. Key dates are:
- Ex Date: February 1, 2022
- Record Date: February 2, 2022
- Payable Date: February 15, 2022
- 4.375% Series A: $0.27344
- 4.75% Series B: $0.27380*
- 5.875% Series A Term (RiverNorth Specialty Finance): $0.36719
RiverNorth/DoubleLine Strategic Opportunity Fund has announced a public offering of 2,400,000 shares of 4.75% Series B Cumulative Preferred Stock at $25 per share, leading to approximately $58.1 million in net proceeds post-expenses. The shares will potentially trade under 'OPPPRB' on the NYSE within 30 days after issuance. Proceeds will be utilized to repay borrowings and for general working capital. The offering is set to close on November 22, 2021, subject to standard conditions.
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