The series C, 6% short duration term preferred (OPP-C) from closed end funds RiverNorth/Doubleline Strategic Opportunity Fund (OPP) is now trading somewhat ‘normally’–right around the liquidation value of $10. This ‘rights offering’ series sold with strange pricing for a few days before now settling in. This has just 410,000 shares outstanding and it looks like the $10 liquidation value threw folks off for a few days.
The issue has a mandatory redemption on 12/1/2027 so maybe it is a decent spot to hide out in as a cash alternative of sorts.