LPL Financial LLC recently announced the acquisition of new stake in RiverNorth/DoubleLine Strategic Opportunity Fund Inc. (NYSE:OPP). The institutional investor has increased its shareholding in the Financial company by 57.73% to 0.18 million shares with purchase of 64744.0 shares. This fresh investment now brings its stake to 0.91% valued currently at $1.54 million. In addition, Clough Capital Partners LP raised its holdings by 0.16 million to 0.16 million shares. And NewEdge Advisors LLC has lifted its position by 0.84% or 700.0 shares – to 84200.0 shares.
With over 0.46 million RiverNorth/DoubleLine Strategic Opportunity Fund Inc. (OPP) shares trading Friday and a closing price of $8.86 on the day, the dollar volume was approximately $4.12 million. The shares have shown a negative half year performance of -20.18% and its price on 01/13/23 lost nearly -1.01%. Currently, there are 19.44M common shares owned by the public and among those 19.44M shares have been available to trade.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
However, the script later moved the day high at 8.92, down -1.01%. The company’s stock has a 5-day price change of -0.23% and 0.45% over the past three months. OPP shares are trading 2.07% year to date (YTD), with the 12-month market performance down to -39.85% lower. It has a 12-month low price of $8.50 and touched a high of $14.59 over the same period. OPP has an average intraday trading volume of 154.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.15%, -3.19%, and -14.27% respectively.
Institutional ownership of RiverNorth/DoubleLine Strategic Opportunity Fund Inc. (NYSE: OPP) shares accounts for 29.01% of the company’s 19.44M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for 0.22% and — respectively.
It has a market capitalization of $172.27M. The stock’s trailing 12-month PE ratio is 6.24, while the earnings-per-share (ttm) stands at $1.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.48% over the week and 1.75% over the month.