Fiduciary/Claymore MLP Opportunity Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund�s investment objective is to provide a high level of after-tax total return with an emphasis on current distributions paid to shareholders. Generally, the Fund invests at least 80% of its managed assets in master limited partnerships (MLPs) entities and at least 65% in equity securities of MLP entities. The Fund may invest up to 40% of its managed assets in unregistered or otherwise restricted securities, including up to 20% of its managed assets in securities issued by non-public companies. The Fund may invest a total of up to 25% of its managed assets in debt securities of MLP entities and non-MLP entity issuers, including securities rated below investment grade. Guggenheim Funds Investment Advisors, LLC (GFIA) serves as the investment adviser to the Fund.