RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
OPP-PB
New York Stock Exchange17.13
USD
-0.23
- -
CIK
0001678130
ISIN
US76882G4047
CUSIP
76882G404
Return %
Stock
S&P500
1Y
-6.55
19.01
3Y
-13.09
65.48
5Y
-31.62
72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Patrick W. Galley
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 433 West Van Buren Street Chicago IL United States of America 60607
- IPO Date
- Nov 16, 2021
- CIK
- 0001678130
- Website
- rivernorth.com
- Similar Companies
- Business
- RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP; OPP-PB) is a diversified closed-end management investment company that seeks current income and overall total return through opportunistic investments in fixed income securities and related instruments; it allocates managed assets across three principal strategies: a tactical closed-end fund income strategy investing in underlying funds such as closed-end funds, special purpose acquisition companies, exchange-traded funds, and business development companies that focus on income-producing securities to capture discounts and premiums; an opportunistic income strategy emphasizing fixed income instruments including agency and non-agency residential mortgage-backed securities, other asset-backed securities, corporate bonds, municipal bonds, and real estate investment trusts, with at least 50% in mortgage-backed securities; and an alternative credit strategy targeting high income via loans to small and mid-sized companies, pass-through notes, asset-backed securities, private funds, equity interests, and credit extensions to alternative credit platforms, encompassing securities of any maturity and credit quality including below investment grade. The Fund, founded in 2016 and headquartered at 360 South Rosemary Avenue, Suite 1420, West Palm Beach, Florida, trades common shares on the NYSE and employs leverage through preferred shares (Series A at 4.375%, Series B at 4.75%, and Series C term preferred), reverse repurchase agreements, borrowings, and derivatives; RiverNorth Capital Management, LLC serves as investment adviser, managing the tactical and alternative credit strategies while allocating assets dynamically, with DoubleLine Capital LP as sub-adviser handling the opportunistic income strategy. Recent developments include a May 2025 distribution agreement with ALPS Distributors, Inc. authorizing at-the-market sales of up to 10 million common shares at or above NAV plus commission via sub-placement agent UBS Securities LLC, alongside a October 2025 transferable rights offering to record date stockholders enabling one new common share purchase per three rights held at a discounted subscription price with oversubscription privileges, which closed in November 2025 yielding preliminary gross proceeds of approximately $9.4 million from 1,180,525 new shares issued to expand the capital base.