SCHEDULE: Morgan Stanley Discloses 14.8% Stake in RiverNorth Fund

Morgan Stanley and its subsidiary, Morgan Stanley Smith Barney LLC, have disclosed a 14.8% beneficial ownership in RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.'s Series B Preferred Shares.

Summary

• Morgan Stanley and Morgan Stanley Smith Barney LLC collectively hold beneficial ownership of 354,591 shares of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.'s 4.75% Series B Cumulative Preferred Shares.
• This ownership represents 14.8% of the total class of these securities.
• Morgan Stanley Smith Barney LLC, a wholly-owned subsidiary of Morgan Stanley, is the entity through which these securities are owned.
• The filing indicates shared voting power of 1.00 and shared dispositive power of 354,591.00 shares for both reporting persons.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, providing no explicit positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• A major financial institution, Morgan Stanley, holds a significant 14.8% stake in the preferred shares, which may signal confidence in the issuer's stability or the value of its preferred stock.

Risks

• The filing, a Schedule 13G, primarily focuses on beneficial ownership disclosure and does not detail specific operational or financial risks pertaining to RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Future Outlook

The filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding the future performance or strategic direction of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Industry Context

This filing represents a standard disclosure of significant institutional ownership in a publicly traded fund's preferred shares, common among large financial institutions like Morgan Stanley for their investment and client holdings.

Related Party Transactions

• Morgan Stanley Smith Barney LLC, one of the reporting persons, is a wholly-owned subsidiary of Morgan Stanley, the other reporting person, indicating an intra-group beneficial ownership structure.

Stakeholder Impact

• Shareholders of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. are informed of a significant institutional stake held by Morgan Stanley, which may influence perceptions of stability and institutional confidence in the preferred shares.

Key Dates

Keywords

Morgan Stanley, RiverNorth/DoubleLine Strategic Opportunity Fund, Preferred Shares, Beneficial Ownership, SEC Filing, Schedule 13G, Institutional Investment, Cumulative Preferred Shares