RiverNorth teams with Gundlach for another fund

• Open for business as of last week is the closed-end RiverNorth/DoubLine Strategic Opportunity Fund (NYSE:OPP), which will invest in fixed-income paper as well as other CEFs. RiverNorth is the fund's investment advisor and Jeff Gundlach's DoubleLine is sub-adviser.
• OPP raised about $210M in its IPO, a number which could rise to $242M if the underwriters exercise their greenshoe option.
• RiverNorth and DoubleLine since 2010 have also co-managed the RiverNorth/DoubleLine Strategic Income Fund (MUTF:RNSIX).