RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

The full company name is RiverNorth/DoubleLine Strategic Opportunity Fund.

Investors are desperate for income to maintain their standard of living in today's incredibly high inflation. RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. invests in a portfolio of fixed-income and other high-yielding assets and employs leverage to give investors an incredibly high yield.

OPP: This High-Yielding CEF Looks Better And Could Be A Play On Bank Problems

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1 out of 22 CEF sectors positive on price and 0 out of 22 sectors positive on NAV last week. Senior loans lead while real estate lags.

Weekly Closed-End Fund Roundup:  February 12, 2023

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We take a look at the action in preferreds and baby bonds through the first week of January and highlight some of the key themes we are watching. Preferreds had a terrific start to the year, supported by lower Treasury yields and higher stocks.

Preferreds Weekly Review: Year-End Tax Losers Rally Hard

WEST PALM BEACH, Fla.--( BUSINESS WIRE )--In accordance with the RiverNorth closed-end funds' (the “Funds”) level distribution policies, the distribution rates have been reset for the calendar year 2023, as detailed below. Further, the Funds have declared distributions for January, February and March 2023.

RiverNorth Closed-End Funds Declare Monthly Distributions

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. invests its assets in three tactical silos that include both other closed-end funds and fixed-income assets. The closed-end fund is invested in some floating-rate loans that should hold their value in the face of rising rates.

OPP: Interesting Fund But Don't Count On That Yield Being Sustainable

WEST PALM BEACH, Fla.--( BUSINESS WIRE )--The RiverNorth Closed-End Funds (each a “Fund” and collectively, the “Funds”)1 are pleased to announce that Lisa Mougin has been appointed to the Board of Directors of each Fund as an independent director, effective immediately. Ms. Mougin is an experienced senior executive with many years of investment management industry experience in sales, client relationship and operations. Ms. Mougin was most recently President and Chief Operating Officer of the TIFIN affiliated Positivly and Louise platforms. Prior to that Ms. Mougin was a member of the executive team that built ALPS Fund Services into a leader in the mutual fund and hedge fund industries. During the span of 20 years at ALPS, Lisa led the Sales and Relationship Management Teams to achieving significant growth of the firm's client base and revenues.

RiverNorth Closed-End Funds and RiverNorth Funds Announce Board Member Appointments and Retirement

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12 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. Tortoise offer tender results.

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16 out of 23 CEF sectors positive on price and 12 out of 23 sectors positive on NAV last week. Watch for overvalued CEFs as market volatility rises.

Weekly Closed-End Fund Roundup: Tortoise Tender Offers Expiring (October 23, 2022)

John Hancock Financial Opportunities Fund

Eaton Vance Tax-Advantaged Global Dividend Income Fund

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Gabelli Equity Trust

Nuveen Arizona Quality Municipal Income Fund

Nuveen Municipal Credit Opportunities Fund

Putnam High Income Securities Fund

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0 out of 23 CEF sectors are positive on price and 0 out of 23 sectors are positive on NAV over the last week. BlackRock CEFs are repurchasing their shares.

Weekly Closed-End Fund Roundup: BlackRock CEFs Repurchasing Shares (October 16, 2022)

OPP's rights offering results have concluded. The share price trended towards the subscription floor, as we expected.

OPP: Rights Offering Results Quick Notes

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) today announced the final results of its transferable rights offering (the “Offering”). The Fund will issue a total of 3,508,633 new shares of common stock as a result of the Offering, which closed on September 23, 2022 (the “Expiration Date”). The subscription price of $9.70 per share in the Offering was established on the Expiration Date based on a formula equal to 92.5% of

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering

OPP concluded its rights offering yesterday. The CEF was able to raise $34 million in new capital via the offering.

OPP Rights Offering: Mediocre Take-Out

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) today announced the preliminary results of its transferable rights offering (the “Offering”) that expired on September 23, 2022 (the “Expiration Date”). In the Offering, the Fund received subscription requests for 3,508,633 shares of common stock from rights holders. Accordingly, the Fund expects to issue 3,508,633 new shares of common stock for these subscriptions, pending th

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Preliminary Results of Rights Offering

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Western Asset Diversified Income Fund

We review CEF market valuation and performance through the third week of September and highlight recent market action. CEFs had a tough week due to an upside surprise in inflation which pushed nearly all assets lower.

CEF Weekly Review: Why Rising Leverage Costs Are Not To Blame For Low Returns

OPP and RIV have initiated rights offerings rather regularly. OPP is coming close to finishing up its rights offerings, now it is RIV's turn.

OPP And RIV: Time For A Swap

OPP is a fixed income CEF that allocates its cash between two principal strategies. The two strategies are run by different asset managers, namely RiverNorth and DoubleLine.

OPP: Too Many Cooks In The Kitchen, Sour 17% Yield

OPP's annual rights offering is here. The subscription price has a floor, limiting dilution.

OPP: Rights Offering Quick Notes

CHICAGO--(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 rights to purchase additional shares of common stock of the Fund. In this offering, the Fund will issue transferable subscription rights (“Rights”) to its stockholders of record as of August 25, 2022 (the “Record Date” and such stockholders “Record Date Stockhold

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Transferable Rights Offering

I like to add closed-end funds trading at a discount to NAV to my portfolio. DoubleLine and RiverNorth are strong fixed income investing firms.

OPP: 2 Strong Firms Collaborated To Create Interesting Offering

OPP is a CEF investing in other CEFs and mortgage-backed securities. The common units pay an attractive dividend, but I'm more attracted to the preferred shares.

OPP: I'm Warming Up To The Preferred Shares

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We review CEF market valuation and performance through the third week of March and highlight recent market action.

CEF Market Weekly Review: Why Falling In Love With Drawdowns Can Be Risky

OPP operates their distribution similarly to RIV, another RiverNorth fund with a 12.5% distribution that is reset annually. RIV maintained its distribution heading into 2022, but OPP saw its distribution reset to a lower level.

OPP: 12.76% Distribution Yield But Several Risks To Consider

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New York Mortgage Trust

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As November 2021 comes to a close, we look back at the new preferred stocks and ETDs introduced during the month, offering annual yields ranging from 4% to 8.75%. Here is a comparison against highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric

New Preferred Stock IPOs, November 2021

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We review CEF market valuation and performance over the third week of November and highlight recent market events. The CEF market had an off-week with nearly all sectors delivering lower NAVs and wider discounts.

CEF Weekly Market Review: Mind Your CEF Expenses

CHICAGO--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) today announced that it has priced an underwritten public offering of 2,400,000 shares of 4.75% Series B Cumulative Preferred Stock (the “Series B Preferred Stock”) at a public offering price of $25 per share, which will result in net proceeds to the Fund of approximately $58.1 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Fun

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Prices Series B Preferred Stock Offering

News for RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. ETF (OPP)