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RiverNorth/DoubleLine Strategic Opp Fund - OPP STOCK NEWS

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 (OPP) provides investors with specialized strategies targeting niche market opportunities through its closed-end structure. This news hub delivers essential updates about the fund's activities and market positioning.

Access authoritative coverage of OPP's quarterly earnings, strategic portfolio adjustments, and management commentary. Our curated collection includes press releases about asset allocation shifts, income distribution updates, and regulatory filings - all critical for evaluating this opportunistic income fund.

Regular updates cover three key areas: performance milestones reflecting total return objectives, market positioning in less efficient sectors, and management insights about risk-adjusted strategies. Bookmark this page for timely notifications about material events affecting OPP's closed-end investment approach.

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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.

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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.

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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
The distributions for preferred stocks are as follows:
  • 4.375% Series A: $0.27344
  • 4.75% Series B: $0.27380*
  • 5.875% Series A Term (RiverNorth Specialty Finance): $0.36719
*Partial distribution from the original share issue date.

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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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RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced plans to offer shares of its Series B Cumulative Preferred Stock in an underwritten public offering. The completion depends on market conditions. If approved, the Series B Preferred Stock will trade on the NYSE under the ticker symbol 'OPPPRB' within 30 days. Proceeds will be used to repay borrowings and for general working capital. The Fund had $321 million in total managed assets and 16.2 million shares outstanding as of September 30, 2021.

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RiverNorth/DoubleLine Strategic Opportunity Fund and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q4 2021. The RiverNorth/DoubleLine Fund will pay $0.27344 per share on its 4.375% Series A Cumulative Preferred Stock (OPPPRA), while RiverNorth Specialty Finance will pay $0.36719 per share on its 5.875% Series A Term Preferred Stock (RMPL). The ex-dividend date is October 29, 2021, with the record date being November 1, 2021, and the payable date on November 15, 2021. Investors should consult tax advisors regarding distribution sources.

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RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced the conclusion of its transferable rights offering, which closed on October 1, 2021. The offering generated approximately $42.3 million by issuing 2,926,441 new shares at a subscription price of $14.48 per share. This price was determined based on 97.5% of the reported net asset value or 95% of the market price on the expiration date, whichever was higher. The fund had total managed assets of approximately $321 million as of August 31, 2021.

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RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced the preliminary results of its rights offering, which ended on October 1, 2021. The Fund expects to issue 2,926,444 new shares, generating approximately $42.3 million before expenses. The final subscription price is set at $14.48 per share, lower than the earlier estimate of $15.45, reflecting 97.5% of the net asset value (NAV) of $14.85. The Fund had about $321 million in total managed assets as of August 31, 2021, and the rights offering does not affect past monthly distributions paid in August or September.

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On August 27, 2021, the RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) held a shareholder meeting where a proposal to convert from a closed-end to an open-end investment company was rejected. Shareholders opted to maintain the fund's current structure, a decision lauded by CEO Patrick Galley, who emphasized the benefits for income and overall returns. As of July 31, 2021, RiverNorth manages $5.5 billion in assets, focusing on niche market investments. The fund operates as a closed-end entity, trading on the secondary market, and carries inherent investment risks.

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FAQ

What is the current stock price of RiverNorth/DoubleLine Strategic Opp Fund (OPP)?

The current stock price of RiverNorth/DoubleLine Strategic Opp Fund (OPP) is $8.23 as of April 28, 2025.

What is the market cap of RiverNorth/DoubleLine Strategic Opp Fund (OPP)?

The market cap of RiverNorth/DoubleLine Strategic Opp Fund (OPP) is approximately 191.9M.
RiverNorth/DoubleLine Strategic Opp Fund

NYSE:OPP

OPP Rankings

OPP Stock Data

191.91M
23.81M
28.33%
0.08%
Asset Management
Financial Services
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United States
Chicago