RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) Stock

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) today announced the final results of its inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund (the “Offering”). The Fund will issue a total of 838,412 new shares of common stock and 419,206 new shares of Series C Preferred Stock as a resu.

OPP offers a 13.7% yield and trades at a discount to NAV of nearly -7%. A rights offering will allow shareholders to exercise six rights to buy two shares of common stock and one share of Series C Preferred stock. While I consider OPP a good CEF for income investors, I believe that the RO will offer some potential buying opportunities as investors fear dilution to the NAV.

We take a look at the action in preferreds and baby bonds through the fourth week of October and highlight some of the key themes we are watching. Preferred stocks fell around 1% due to rising Treasury yields, but resilient economy views kept credit spreads near 5-year lows. Agency mortgage REITs' Q3 results show rising book value and stable leverage.

We take a look at the action in preferreds and baby bonds through the fourth week of October and highlight some of the key themes we are watching. Preferred stocks fell around 1% due to rising Treasury yields, but resilient economy views kept credit spreads near 5-year lows. Agency mortgage REITs' Q3 results show rising book value and stable leverage.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--As announced in a press release dated October 21, 2024 (the “Prior Announcement”), the Board of Directors of the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) has authorized and set the terms of an offering to the Fund's stockholders of inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) announces that its Board of Directors (the “Board”) has authorized and set the terms of an offering to the Fund's stockholders of inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund. It is anticipated that the Fund will apply for the pre.

RiverNorth/DoubleLine Strategic Opportunity Fund offers high income potential with a multi-strategy portfolio managed by different fund managers. The OPP Fund has outperformed the S&P 500 Index over the past five months, which is unusual for a closed-end fund. The fund is primarily a fixed-income fund, with more than two-thirds of its assets invested in this category.

The RiverNorth/DoubleLine Strategic Opportunity Fund has a high yield of 14.36%, which is higher than peers and makes it attractive to income-focused investors. The OPP closed-end fund's recent performance has been strong, with a 4.10% increase in share price since December 2023, outperforming bond indices. The fund's distribution has been declining, and it has failed to cover its distribution year-to-date.

The RiverNorth/DoubleLine Strategic Opportunity Fund offers a high level of current income with a 15.22% yield, but there are concerns it may have to reduce its distribution in the future. The fund's recent performance has been reasonable, but it has underperformed the S&P 500 Index. The fund's portfolio is managed by RiverNorth and DoubleLine, and it invests in a combination of traditional bonds and non-traditional assets like closed-end funds and business development companies.