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.
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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.
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RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced plans to offer shares of Series A Cumulative Preferred Stock in a public offering. The offering's completion hinges on customary closing and market conditions. The preferred shares will be listed on the NYSE under the ticker symbol OPP.P, with trading expected to commence within 30 days post-issuance. The net proceeds will be utilized to repay borrowings and for general working capital. UBS Securities LLC is the book-running manager for this offering.
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RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced the results of its transferable rights offering, closing on October 1, 2020. The Fund will issue 472,995 new shares at a subscription price of $13.88 per share, raising approximately $6.6 million in gross proceeds. Notably, these shares will not be eligible for monthly distributions in August or September 2020. The Fund had about $266 million in managed assets and 13.4 million shares outstanding as of September 30, 2020. Investors are advised to consider the associated risks before investing.
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP) announced preliminary results of its rights offering, which closed on October 1, 2020. The Fund received requests for 473,015 shares, expecting to raise approximately $6.6 million before expenses. The final subscription price was set at $13.88 per share, slightly higher than the initially estimated $13.81. Shares from this offering will not be eligible for monthly distributions in August or September 2020. The Fund's investment objective focuses on current income and total return, managing approximately $267 million in assets.