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Post by xray on Sept 1, 2021 17:34:57 GMT
News:
OPP:
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Results of Shareholder Vote
Tue, August 31, 2021, 4:42 PM
OPP
-0.51%
CHICAGO, August 31, 2021--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the "Fund") (NYSE: OPP) announced the results of its shareholder meeting of August 27, 2021. At that meeting, shareholders were asked to vote on a proposal, pursuant to the Fund’s Articles of Incorporation, to convert the Fund from its current structure as a closed-end investment company to an open-end investment company. Shareholders voted against the proposal, and the Fund will continue in its current closed-end investment company structure.
"We are very pleased that the Fund’s shareholders have elected to maintain the existing closed-end fund structure," said Patrick Galley, RiverNorth’s Chief Executive Officer and Chief Investment Officer. "In our view this structure provides the best opportunity for current income and overall return for our shareholders."
RiverNorth Capital Management, LLC
RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.5 billion1 in assets under management as of July 31, 2021, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts.
The Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund trades in the secondary market. Investors wishing to buy or sell stock need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.
Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the shares of common stock, you should consider the risks as well as the other information in the prospectus.
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RIV:
RiverNorth Opportunities Fund Announces Results Of Shareholder Vote
Tue, August 31, 2021, 4:30 PM
RIV
0.00%
DENVER, Aug. 31, 2021 /PRNewswire/ -- RiverNorth Opportunities Fund (the "Fund"), which is traded on the New York Stock Exchange under the symbol "RIV," announced the results of its shareholder meeting held on August 20, 2021. At that meeting, shareholders were asked to vote on a proposal, pursuant to the Fund's Articles of Incorporation, to convert the fund from its current structure as a closed-end fund to an open-end investment company. Shareholders voted against the proposal, and the Fund will continue in its current closed-end fund structure.
Patrick Galley, Chief Executive Officer and Chief Investment Officer, RiverNorth, said "we are pleased that shareholders have elected to maintain the current closed-end fund structure for the Fund. We believe this structure gives us the best opportunity to generate attractive long-term risk adjusted returns for shareholders."
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Post by xray on Sept 2, 2021 15:55:46 GMT
NEWS: RIVRivernorth Opportunities Fund, Inc. Declares Monthly Distributions of $0.17 per ShareWed, September 1, 2021, 4:30 PM RIV -0.03% DENVER, Sept. 1, 2021 /PRNewswire/ -- RiverNorth Opportunities Fund, Inc. (the "Fund"), which trades on the New York Stock Exchange under the symbol "RIV," announced the declaration of monthly distributions of $0.17 per share, payable on the dates noted below. Under the Fund's level distribution policy, the distribution rate has been reset to an amount equal to approximately 12.5% (annualized) of the average of the Fund's net asset value ("NAV") per share, as reported for the final five trading days of the 2020 calendar year. Based on the Fund's current NAV per share of $16.93 (as of market close August 27, 2021), the distributions represent an annualized distribution rate of 12.05%.The following dates apply to the distributions declared: Ex Date: 10/14, 11/11, 12/15
Payable Date: 10/29, 11,30, 12/31RISKSThis press release is not for tax reporting purposes but is being provided to announce the amount of the Fund's distributions. In early 2022, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder's tax return (e.g., ordinary income, long-term capital gain or return of capital). An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle. Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. The Fund's net asset value will vary and its distribution rate may vary and both may be affected by numerous factors, including changes in the market spread over a specified benchmark, market interest rates and performance of the broader equity markets. Fluctuations in net asset value may be magnified as a result of the Fund's use of leverage. Therefore, before investing you should carefully consider the risks that you assume when you invest in the Fund's common shares. The Fund's investment objectives and policies are not designed to seek to return the initial investment to investors that purchase shares. A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short–term capital gain, long–term capital gain and return of capital. The final determination of the source of all distributions, including the percentage of qualified dividend income, is made after year–end. Past performance is no guarantee of future results. An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information, visit www.rivernorthcef.com or call 855.830.1222. Please read them carefully before investing. NOT FDIC INSURED | May Lose Value | No Bank GuaranteeThe Fund is a closed-end fund and does not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. ---------- Comment: Currently at major "PREMIUM" [[-0.93]. Very bad numbers currently with Report Card Grade 43 and a Power Rating of 58. The Star Rating is currently " 3" [sell] with a computer sell code of 5 [[at risk]. Can be very volatile in MktPrc. Will probably increase in MktPrc on their distribution announcement. Older x-dates, Paydate announcement [6/21] was as follows: Ex Date: 7/15, 8/16, 9/30 Payable Date: 7/30, 8/31, 9/30 Disclosure: Some of us currently have a Phase 0 position [0-2%] in RIV with a average MktBuyPrc of 18.33 [for next down market average rebuilding] with a current CapGain of $2,139.99]. Live Long and Prosper... |
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Post by xray on Sept 5, 2021 14:08:32 GMT
OPP review:
{Investor Beware]
Currently at "PREMIUM" [-0.98]. Very bad numbers currently with Report Card Grade 40 and a Power Rating of 56. The Star Rating is currently "4" [3 is sell] with a computer sell code of 7 [Beyond reasonable risk]. The distribution Distribution [distribution amount of $2.04/Yr [$0.17/Month] x-date and Paydate announcement [6/21] was as follows:
Ex Date: 9/15
Payable Date: 9/30
Disclosure: Some of us have no current position in OPP at this time [only on our "Watch List"]....
Live Long and Prosper....
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Post by xray on Sept 5, 2021 14:23:44 GMT
OPP review [CORRECTED]:
{Investor Beware]
Currently at "PREMIUM" [-0.98]. Very bad numbers currently with Report Card Grade 40 and a Power Rating of 56. The Star Rating is currently "4" [3 is a sell signal] with a computer immediate sell code of 7 [Beyond reasonable risk]. The distribution Distribution [distribution amount of $1.9032/Yr [$0.1586/Month] x-date and Paydate announcement [8/13] was as follows:
Ex Date: 9/15
Payable Date: 9/30
Disclosure: Some of us have no current position in OPP at this time [only on our "Watch List"]....
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RIV review:
{Investor Beware]
Currently at "Large PREMIUM" [-0.93]. Very bad numbers currently with Report Card Grade 43 and a Power Rating of 60. The Star Rating is currently "5" [Neutral] with a computer sell code of 5 [at risk]. The distribution Distribution [distribution amount of $2.04/Yr [$0.17/Month] x-date and Paydate announcement [9/2] was as follows:
Ex Date: 9/15
Payable Date: 9/30
Disclosure: Some of us have no current position in RIV at this time [only on our "Watch List"]....
Live Long and Prosper....
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Post by xray on Sept 22, 2021 21:25:58 GMT
RIV to start Rights Offering [RO]
RiverNorth Opportunities Fund, Inc. Announces Rights Offering
Wed, September 22, 2021, 4:30 PM
RIV
+0.73%
DENVER, Sept. 22, 2021 /PRNewswire/ -- RiverNorth Opportunities Fund, Inc. (NYSE: RIV) (the "Fund") announces that its Board of Directors (the "Board") has authorized and set the terms of an offering to the Fund's stockholders of rights to purchase additional shares of common stock of the Fund.
In this offering, the Fund will issue transferable subscription rights ("Rights") to its stockholders of record as of October 1, 2021 (the "Record Date" and such stockholders, "Record Date Stockholders") allowing the holder to subscribe for new shares of common stock of the Fund (the "Primary Subscription"). Record Date Stockholders will receive one Right for each share of common stock held on the Record Date. For every three Rights held, a holder of Rights may buy one new share of common stock of the Fund. Record Date Stockholders who exercise their Rights will not be entitled to distributions payable during October 2021 on shares issued in connection with the Rights Offering. The Rights are expected to be listed and tradable on the New York Stock Exchange ("NYSE") under the ticker: RIV RT.
Record Date Stockholders who fully exercise all Rights initially issued to them in the Primary Subscription will be entitled to buy those shares of common stock that are not purchased by other Record Date Stockholders.
The subscription price per share of common stock will be determined based upon a formula equal to 97.5% of the reported net asset value or 95% of the market price per share of common stock, whichever is higher on the Expiration Date (as defined below). Market price per share of common stock will be determined based on the average of the last reported sales price of a share of common stock on the NYSE for the five trading days preceding (and not including) the Expiration Date. The subscription period will expire on November 5, 2021, unless extended by the Board (the "Expiration Date").
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Comment: Looking at current data [COB Friday]:
Star Rating: 5 [neutral]
13wk Star rating: 4.50 [non-performing CEF currently]
Report card Rating: 45 [failing]
Power rating: 62 [failing]
MktPrc 17.86
Closing mktPrc today: 17.92
Current Dividend: 11.42%
Current Premium to mktPrc: -0.95 [negative]
Change in last weeks Intrinsic value: -0.07
Current Trend: +0.65 [need >+2.76]
Disclosure: Some of us sold out our position for CapGains and currently hold no current position [or current interest] in RIV....
Live Long and Prosper....
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Post by xray on Oct 4, 2021 16:03:04 GMT
Business Wire
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Preliminary Results of Rights Offering
Mon, October 4, 2021, 6:45 AM
In this article:
OPP
+0.41%
CHICAGO, October 04, 2021--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the "Fund") (NYSE: OPP) today announced the preliminary results of its transferable rights offering (the "Offering") that expired on October 1, 2021 (the "Expiration Date"). In the Offering, the Fund received subscription requests for 2,926,444 shares of common stock from rights holders. Accordingly, the Fund expects to issue 2,926,444 new shares of common stock for these subscriptions, pending the receipt of payment for "delivery-guaranteed" subscriptions, on or about October 8, 2021. Gross proceeds from the Offering are expected to total approximately $42.3 million, before expenses.
The foregoing numbers are estimates only. The Fund will announce the final results of the Rights Offering in a press release on or about October 4, 2021.
The Offering’s final subscription price per share was determined to be $14.48. The subscription price was established pursuant to the terms of the Offering and based on a formula equal to 97.5% of the reported net asset value ("NAV"). Using the formula described above, the NAV per share was $14.85. The final subscription price is lower than the original estimated subscription price of $15.45 per share. Accordingly, any excess payments will be returned to subscribing rights holders as soon as practicable, in accordance with the prospectus supplement and accompanying prospectus, filed with the Securities and Exchange Commission on August 27, 2021.
The shares of common stock issued as a result of the rights offering will not be record date shares for the Fund’s monthly distributions paid in August or September 2021.
This press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy.
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
The investment objective of the Fund is current income and overall total return. The Fund had approximately $321 million of total managed assets1 and 16.0 million shares of common stock outstanding as of August 31, 2021.
The Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.
Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the Common Shares, you should consider the risks as well as the other information in the prospectus.
Past performance is no guarantee of future results.
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Disclosure: Some of us currently do not have a current position in OPP....
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