Welcome to our dedicated page for RiverNorth/DoubleLine Strategic Opportunity Fund news (Ticker: OPP), a resource for investors and traders seeking the latest updates and insights on RiverNorth/DoubleLine Strategic Opportunity Fund stock.
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. is a closed-end management investment company that seeks current income and overall total return. News for OPP centers on fund distributions and capital-structure actions, including preferred dividend declarations for its Series A, Series B and Series C preferred stock and common-share rights offering updates tied to net asset value.
Coverage also identifies RiverNorth Capital Management as an investment manager and frames distribution notices through preferred share terms, record dates, payable dates, liquidation preference, tax characterization and fund-risk disclosures.
RiverNorth Opportunities Fund, Inc. and its associated funds have announced preferred dividends for the first quarter of 2023. The dividends include:
- RIVPRA: $0.37500 (6.000% Series A Perpetual Preferred Stock)
- OPPPRA: $0.27344 (4.375% Series A Cumulative Preferred Stock)
- OPPPRB: $0.29688 (4.750% Series B Cumulative Preferred Stock)
- RMPL: $0.36719 (5.875% Series A Term Preferred Stock)
The ex-date for these dividends is February 1, 2023, with a payable date of February 15, 2023. The distributions may come from various income sources, not limited to ordinary income.
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.
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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