DoubleLine Opportunistic Credit Fund (NYSE:DBL) Short Interest Update

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 66,679 shares, a growth of 171.8% from the April 30th total of 24,528 shares. Based on an average daily trading volume, of 57,458 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DBL. Bank of America Corp DE grew its position in shares of DoubleLine Opportunistic Credit Fund by 86.3% during the 3rd quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock valued at $6,846,000 after purchasing an additional 203,536 shares in the last quarter. Absolute Investment Advisers LLC purchased a new position in shares of DoubleLine Opportunistic Credit Fund during the 1st quarter valued at $2,820,000. Polar Asset Management Partners Inc. purchased a new position in shares of DoubleLine Opportunistic Credit Fund during the 3rd quarter valued at $2,593,000. Stratos Wealth Advisors LLC grew its position in shares of DoubleLine Opportunistic Credit Fund by 114.6% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 251,623 shares of the investment management company’s stock valued at $3,920,000 after purchasing an additional 134,396 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of DoubleLine Opportunistic Credit Fund by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 268,441 shares of the investment management company’s stock valued at $4,094,000 after purchasing an additional 78,416 shares in the last quarter.

DoubleLine Opportunistic Credit Fund Trading Up 0.1%

DoubleLine Opportunistic Credit Fund stock opened at $14.42 on Monday. DoubleLine Opportunistic Credit Fund has a 1-year low of $14.07 and a 1-year high of $16.01. The firm has a 50 day simple moving average of $14.39 and a 200 day simple moving average of $14.88.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were paid a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date was Wednesday, May 13th.

About DoubleLine Opportunistic Credit Fund

DoubleLine Opportunistic Credit Fund (NYSE: DBL) is a closed-end management investment company designed to seek high current income by investing across a broad spectrum of credit instruments. The fund pursues an opportunistic strategy, allocating capital to non-investment-grade debt obligations, leveraged loans, high-yield bonds, structured credit products and other credit-related securities. As part of its flexible mandate, the fund may employ derivatives and repurchase agreements to hedge risk, manage duration and enhance yield.