OPP News and Press, RiverNorth/DoubleLine Strategic Opportunity Fund Inc. From 09/27/22

Summary OPP concluded its rights offering yesterday. The CEF was able to raise $34 million in new capital via the offering. The new capital raise has thus resulted in a 17% increase in assets via the cash raise. This article covers CEFs from our suite of products - we focu...

Summary We review CEF market valuation and performance through the third week of September and highlight recent market action. CEFs had a tough week due to an upside surprise in inflation which pushed nearly all assets lower. We discuss why rising CEF leverage costs cannot exp...

Summary 14 out of 23 CEF sectors were positive on price and 16 out of 23 sectors were positive on NAV last week. HYT conducts a rights offering. ZTR rights offering has expired. Author's note: This article was released to CEF/ETF Income Laboratory members on Septem...

Summary OPP and RIV have initiated rights offerings rather regularly. OPP is coming close to finishing up its rights offerings, now it is RIV's turn. With RIV at a large premium, the drop in the coming weeks could be significant. Written by Nick Ackerman, co-produced b...

Summary 0 out of 23 CEF sectors positive on price and 0 out of 23 sectors positive on NAV last week. U.S. equities were the worst-performing CEF sector. SMM will be merged with SMLPX. Author’s note: This article was released to CEF/ETF Income Laboratory memb...

Summary OPP is a fixed income CEF that allocates its cash between two principal strategies. The two strategies are run by different asset managers, namely RiverNorth and DoubleLine. The CEF is currently overweight non-agency MBS bonds and has significantly underperformed in 20...

Summary OPP's annual rights offering is here. The subscription price has a floor, limiting dilution. Investors should not subscribe if OPP trades below a -7.5% discount towards expiry. Author’s note: This article was released to CEF/ETF Income Laboratory mem...

Summary 1 out of 23 CEF sectors positive on price and 1 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. MLPs are the most discounted CEF sector. Author’s note: This article was released to CEF/ETF Income Laboratory members on Au...

Stocks rallied hard again this week with the S&P 500 up another 3.26% and now up 12.08% over the last month. The YTD losses are down to single digits. It does appear that there has been a significant amount of short covering during this rally. That has been especially the case as ...

21 out of 23 CEF sectors positive on price and 22 out of 23 sectors positive on NAV last week. Saba scores a victory against VFL. VFL will tender 50% of its shares in December. Author’s note: This article was released to CEF/ETF Income Laboratory members on July...