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. The Fund seeks to provide a vehicle, through which its shareholders may invest in a portfolio of primarily publicly traded securities of master limited partnerships (MLPs) and related entities. It invests over 80% of its managed assets in MLPs and affiliates of MLPs that own primary interests in an MLP (collectively MLP entities) and over 65% in equity securities of MLP entities. A portion of the MLP entities in which the Fund invests are engaged primarily in the energy, natural resources and real estate sectors. The Fund may invest approximately 40% of its managed assets in unregistered or otherwise restricted securities. Guggenheim Funds Investment Advisors, LLC (GFIA) is the investment advisor of the Fund.