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RiverNorth/DoubleLine Strategic Opportunity Fund Announces Approval Of A 12.5% Level Distribution
Big hitters managing this CEF: Galley, Sherman, Gundlach. They are promising to distribute 12.5% for the coming calendar year, based on the fund's NAV in late December. Currently trading at an 11% discount, the fund is 25% leveraged, and up to this point in 2018 it has returned 43 cents per share as Return of Capital. (Headache for shareholder at tax time.) This is only the third year of its existence. They can't be accused of offering plain vanilla.
The ever popular headline yield ploy masking return of capital bears testament to financial illiteracy as does leverage. What goes up the escalator comes down the elevator, basement level. Something learned circa 2008. Expense ratio 2.67 %
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