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

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.

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.

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.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation have announced preferred dividends for Q3 2021. The Strategic Opportunity Fund declared a cash dividend of $0.27344 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA), while RiverNorth Specialty Finance Corporation set a dividend of $0.36719 for its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The ex date for both dividends is July 30, 2021, with the record date on August 2, 2021, and payment on August 16, 2021.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q2 2021. The former announced a cash dividend of $0.27344 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA). The latter declared $0.36719 per share for its 5.875% Series A Term Preferred Stock (NYSE: RMPL). Important dividend dates include Ex Date: April 30, 2021, Record Date: May 3, 2021, and Payable Date: May 17, 2021. RiverNorth manages approximately $5.1 billion in assets.

RiverNorth/DoubleLine Strategic Opportunity Fund and RiverNorth Specialty Finance Corporation announced preferred dividends for Q1 2021. The Strategic Opportunity Fund declared a dividend of $0.27344 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA). Meanwhile, the Specialty Finance Corporation declared $0.36719 per share for its 5.875% Series A Term Preferred Stock (NYSE: RPML). Key dates include February 1, 2021 for the ex-dividend date, February 2, 2021 for the record date, and February 16, 2021 for the payment date.

RiverNorth/DoubleLine Strategic Opportunity Fund has declared a partial cash dividend of $0.06684 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA) for Q4 2020. The ex-dividend date is set for October 30, 2020, with a record date of November 2, 2020 and a payable date of November 16, 2020. RiverNorth manages assets totaling $4.4 billion, focusing on niche investment strategies.