When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
OPP - OPP-C: A 6.00% Term Preferred IPO From RiverNorth/DoubleLine Strategic Opportunity Fund
RiverNorth/DoubleLine Strategic Opportunity Fund Inc.
2025-01-13 09:59:15 ET
Summary
RiverNorth/DoubleLine Strategic Opportunity Fund issued a new 6.00% term preferred stock (OPP-C) with a $10 par value.
OPP-C offers a strong credit quality, backed by a large cushion from common share distributions, making it a relatively safe investment for up to three years.
The fund's capital structure and asset coverage covenants further enhance the security of OPP-C, despite its small issue size potentially limiting large positions.
OPP-C is overvalued compared to 3-year treasuries, narrowing its IPO spread.
Highest-quality term preferred stock on the exchange.