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.
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.
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.
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.
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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.
Summary not available.