RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
OPP
New York Stock Exchange7.82
USD
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RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
OPP
(New York Stock Exchange)
Recent
price
7.82
P/E
ratio
8.06
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP) is a closed-end management investment company that seeks current income and total return through opportunistic fixed income strategies. RiverNorth Capital Management, LLC allocates the fund's 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; the Alternative Credit Strategy, focusing on small and mid-sized business loans and related instruments from alternative credit platforms; and the Opportunistic Income Strategy, managed by DoubleLine Capital LP, which primarily targets agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities to exploit fixed income market inefficiencies. The fund employs leverage, with a recent leverage ratio of 36.9%, and maintains a portfolio featuring significant exposure to non-agency MBS (29%), agency MBS (27%), small business whole loans (15%), and CMBS (10%), alongside a credit quality mix of 52% investment grade, 22% high yield, and 27% not rated; it benchmarks against the Bloomberg US Aggregate Bond Index and implements a level distribution policy yielding a 12.8% annualized distribution rate on NAV, paid monthly at $0.0950 per share. Founded in 2016 and headquartered in Chicago, Illinois, the fund operates in U.S. fixed income markets, targeting investors seeking income from niche opportunities, with portfolio managers including Patrick Galley and Steve O’Neill of RiverNorth and Jeffrey Gundlach and Jeffery Sherman of DoubleLine. Recent developments include the completion of a transferable rights offering on November 18, 2025, resulting in the issuance of 1,180,525 new common shares at $7.94 per share (90% of NAV), generating approximately $9.4 million in gross proceeds to support its strategies; this follows a prior 2024 offering that raised $11.2 million through common stock and 6.00% Series C Preferred Stock, reflecting ongoing capital raises to enhance liquidity and investment capacity amid market conditions.