Wells Fargo & Company (OPP) discloses 1.65M-share position in RiverNorth/DoubleLine fund
Rhea-AI Filing Summary
Wells Fargo & Company reported its beneficial ownership of common stock of RiverNorth/DoubleLine Strategic Opp Fund (OPP) in an amended Schedule 13G. Wells Fargo and certain broker-dealer subsidiaries beneficially own 1,651,236 shares, representing 6.6% of this class.
The filing states Wells Fargo has sole dispositive power over all 1,651,236 shares but no sole or shared voting power. The securities are held through subsidiaries including Wells Fargo Advisors Financial Network, LLC and Wells Fargo Clearing Services, LLC, both registered broker-dealers.
Positive
- None.
Negative
- None.
Key Figures
Beneficially owned shares: 1,651,236 shares
Percent of class: 6.6%
Sole voting power: 0 shares
+3 more
6 metrics
Beneficially owned shares
1,651,236 shares
Common Stock of RiverNorth/DoubleLine Strategic Opp Fund beneficially owned by Wells Fargo & Company
Percent of class
6.6%
Percentage of OPP common stock class beneficially owned by Wells Fargo & Company
Sole voting power
0 shares
Shares of OPP over which Wells Fargo has sole power to vote or direct the vote
Shared voting power
0 shares
Shares of OPP over which Wells Fargo has shared power to vote or direct the vote
Sole dispositive power
1,651,236 shares
Shares of OPP over which Wells Fargo has sole power to dispose or direct disposition
CUSIP
76882G107
CUSIP number for RiverNorth/DoubleLine Strategic Opp Fund common stock
Key Terms
beneficially owned, sole dispositive power, Schedule 13G, parent holding company, +1 more
5 terms
beneficially owned financial
"Item 4. | Ownership (a) | Amount beneficially owned: 1,651,236"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole dispositive power financial
"(iii) Sole power to dispose or to direct the disposition of: 1,651,236"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Schedule 13G regulatory
"Ownership of more than 5 Percent on Behalf of Another Person. | If any other person is known ..."
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
parent holding company regulatory
"If a parent holding company has filed this schedule, pursuant to (ii)(G)"
broker or dealer registered under section 15 of the Act regulatory
"Wells Fargo Advisors Financial Network, LLC a Broker or dealer registered under section 15 of the Act"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What percentage of RiverNorth/DoubleLine Strategic Opp Fund (OPP) does Wells Fargo own?
Wells Fargo & Company reports owning 6.6% of the OPP common stock class. This percentage is based on the fund’s outstanding shares and reflects Wells Fargo’s aggregated beneficial holdings.
Which Wells Fargo subsidiaries are associated with the OPP holdings (ticker: OPP)?
The Schedule 13G/A is filed by Wells Fargo & Company on its own behalf and for Wells Fargo Advisors Financial Network, LLC and Wells Fargo Clearing Services, LLC, both described as broker-dealers registered under section 15 of the Exchange Act.
Is Wells Fargo’s more-than-5% OPP ownership held on behalf of others?
For the 6.6% OPP stake, the filing states Item 6 is “Not applicable”. It does not identify any other person with a right to receive dividends or sale proceeds related to more than 5% of the class.