DoubleLine Opportunistic Credit Fund (NYSE:DBL) Sees Large Drop in Short Interest

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 279,507 shares, a decline of 14.2% from the December 31st total of 325,933 shares. Based on an average daily trading volume, of 46,090 shares, the short-interest ratio is currently 6.1 days. Based on an average daily trading volume, of 46,090 shares, the short-interest ratio is currently 6.1 days.

DoubleLine Opportunistic Credit Fund Stock Performance

DBL stock traded up $0.03 during trading hours on Tuesday, reaching $15.15. The stock had a trading volume of 22,294 shares, compared to its average volume of 51,776. The stock has a 50-day simple moving average of $15.25 and a 200 day simple moving average of $15.37. DoubleLine Opportunistic Credit Fund has a fifty-two week low of $14.49 and a fifty-two week high of $16.01.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, February 18th. This represents a c) dividend on an annualized basis and a yield of 8.7%.

Institutional Trading of DoubleLine Opportunistic Credit Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of DoubleLine Opportunistic Credit Fund by 22.2% during the 1st quarter. Royal Bank of Canada now owns 223,083 shares of the investment management company’s stock worth $3,486,000 after acquiring an additional 40,495 shares during the period. Janney Montgomery Scott LLC boosted its position in DoubleLine Opportunistic Credit Fund by 3.6% during the second quarter. Janney Montgomery Scott LLC now owns 273,200 shares of the investment management company’s stock worth $4,202,000 after purchasing an additional 9,412 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of DoubleLine Opportunistic Credit Fund in the second quarter valued at $44,000. Ignite Planners LLC increased its holdings in shares of DoubleLine Opportunistic Credit Fund by 25.2% in the second quarter. Ignite Planners LLC now owns 105,511 shares of the investment management company’s stock valued at $1,596,000 after purchasing an additional 21,263 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its position in shares of DoubleLine Opportunistic Credit Fund by 235.3% in the second quarter. Stratos Wealth Advisors LLC now owns 117,227 shares of the investment management company’s stock valued at $1,803,000 after purchasing an additional 82,264 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.