RiverNorth/DoubleLine Strategic Opportunity Fund
OPP-PA
New York Stock Exchange16.24
USD
+0.05
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RiverNorth/DoubleLine Strategic Opportunity Fund
OPP-PA
(New York Stock Exchange)
Recent
price
16.24
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP-PA) is a closed-end management investment company that seeks current income and overall total return through opportunistic investments in fixed income securities and related instruments. The Fund, managed by RiverNorth Capital Management, LLC with co-management by DoubleLine Capital LP, allocates its managed assets among three principal strategies: the Tactical Closed-End Fund Income Strategy, which invests in closed-end funds, special purpose acquisition companies, business development companies, and exchange-traded funds that focus on income-producing securities; the Alternative Credit Strategy, which targets small and mid-sized business loans and related instruments such as pass-through notes, asset-backed securities, and private investment funds originated from alternative credit platforms; and the Opportunistic Income Strategy, which primarily invests in agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, corporate bonds, municipal bonds, and real estate investment trusts to exploit inefficiencies in fixed income subsectors. RiverNorth dynamically determines the allocation among these strategies based on market conditions, employs leverage to enhance returns, and benchmarks performance against the Bloomberg US Aggregate Bond Index, with a portfolio featuring significant exposure to non-agency MBS (29%), agency MBS (27%), small business whole loans (15%), and CMBS (10%) as of Q3 2025. Founded in 2016 and headquartered in West Palm Beach, Florida, the Fund operates primarily in U.S. fixed income markets, serving income-oriented investors through shares traded on the New York Stock Exchange. It maintains a level distribution policy with monthly payouts of $0.0950 per share, equating to an annualized distribution rate of approximately 12.8% on NAV, partially sourced from return of capital, and had total managed assets of $336.5 million and net assets of $212.3 million as of September 30, 2025. In recent developments, the Fund completed a rights offering in November 2025, issuing 1,180,525 new shares of common stock and raising gross proceeds of approximately $9.4 million before expenses, which closed on November 18, 2025. Earlier in 2025, it entered a new distribution agreement with ALPS Distributors, Inc. on May 20 and continues to utilize leverage at a ratio of 36.9% while trading at a discount to NAV of around 4.4-4.8%.