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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 43,970 shares, a decrease of 34.1% from the May 14th total of 66,679 shares. Based on an average trading volume of 37,653 shares, the days-to-cover ratio is currently 1.2 days.

DoubleLine Opportunistic Credit Fund Trading Down 0.7%

Shares of DBL opened at $14.40 on Thursday. The stock has a 50 day simple moving average of $14.39 and a 200 day simple moving average of $14.79. DoubleLine Opportunistic Credit Fund has a 52-week low of $14.07 and a 52-week high of $16.01.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 17th will be given a $0.11 dividend. The ex-dividend date is Wednesday, June 17th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Maridea Wealth Management LLC acquired a new position in shares of DoubleLine Opportunistic Credit Fund in the 1st quarter valued at approximately $177,000. Absolute Investment Advisers LLC acquired a new position in shares of DoubleLine Opportunistic Credit Fund in the 1st quarter valued at approximately $2,820,000. Apriem Advisors grew its position in shares of DoubleLine Opportunistic Credit Fund by 19.9% in the 4th quarter. Apriem Advisors now owns 24,110 shares of the investment management company’s stock valued at $368,000 after purchasing an additional 4,000 shares during the period. Sit Investment Associates Inc. grew its position in shares of DoubleLine Opportunistic Credit Fund by 2.0% in the 4th quarter. Sit Investment Associates Inc. now owns 3,469,728 shares of the investment management company’s stock valued at $52,913,000 after purchasing an additional 68,213 shares during the period. Finally, Intellectus Partners LLC grew its position in shares of DoubleLine Opportunistic Credit Fund by 2.0% in the 4th quarter. Intellectus Partners LLC now owns 290,261 shares of the investment management company’s stock valued at $4,426,000 after purchasing an additional 5,656 shares during the period.

DoubleLine Opportunistic Credit Fund Company Profile

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.