OPP - OPP: Finally Time For This Eclectic Fund 14% Yield

2024-06-03 02:18:34 ET

Summary

• RiverNorth/DoubleLine Strategic Opportunity Fund is a fixed income CEF with a collateral pool based on three distinct strategies.
• The fund is currently overweight small business loans, non-Agency MBS bonds and Treasuries, with a duration-oriented return profile.
• OPP has historically performed well during periods of low interest rates and is currently trading at a large discount to NAV, making it an attractive investment opportunity.
• The fund's true yield is lower than the stated 14% distribution yield.
• Unlike the majority of its peers, the CEF contains a large 13% bucket dedicated to U.S. treasuries.

Thesis

RiverNorth/DoubleLine Strategic Opportunity Fund ( OPP ) is a fixed income CEF. We covered this name almost two years ago, when we talked about a rights offering the CEF did in order to raise capital....

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