Still Awaiting Pricing for RiverNorth/DoubleLine Preferred

Yesterday CEF RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) announced they would be selling a new preferred issue. As of this moment no pricing (coupon) or further details have been announced–nor any OTC grey market ticker.

Since the pandemic hit I have noted a longer time between announcement and pricing. Instead of the pricing being announced the same day as the original announcement many are taking an extra day or two. Like everyone I am impatient and am curious as to what price level a CEF can garner now, in the current environment.

Sit tight–maybe we will see it in the next hour or two.

7 thoughts on “Still Awaiting Pricing for RiverNorth/DoubleLine Preferred”

  1. I’ve been traveling and touching in on occasionally with my morning coffee. I missed the symbol (OTC or permanent) on the recent Brookfield issue and see no early OTC symbol for this issue either. Have you ceased posting the “blue sheets” that used to have the OTC symbol?
    Thanks, JA

    1. The Brookfield issue settled today so a permanent ticker should come soon (Monday?. It can be bought with its CUSIP.

  2. I really like CEF preferreds due to the leverage restrictions and covenants. Too many of the good ones have been called lately. I hope these guys end up with an interest rate that is friendly to those of us who have watched some of our favorites go away or get bid up to excessive premiums to par. Tim, as always, thanks for the sharp eye on these new releases. One of the best times to get into these is when the underwriters dump their shares and drive the price lower than its expected long term steady state.

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