DoubleLine Opportunistic Credit Fund (NYSE:DBL) Short Interest Up 222.4% in May

DoubleLine Opportunistic Credit Fund (NYSE:DBL – Get Rating) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 21,600 shares, an increase of 222.4% from the April 30th total of 6,700 shares. Based on an average daily trading volume, of 43,000 shares, the days-to-cover ratio is currently 0.5 days.

DoubleLine Opportunistic Credit Fund Stock Performance

Shares of DBL stock traded up $0.07 on Friday, hitting $14.63. The company had a trading volume of 50,610 shares, compared to its average volume of 49,703. The company has a 50-day moving average price of $14.39 and a 200-day moving average price of $14.74. DoubleLine Opportunistic Credit Fund has a twelve month low of $13.83 and a twelve month high of $16.45.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 31st. Investors of record on Thursday, May 11th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.32 annualized dividend and a dividend yield of 9.02%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. increased its stake in shares of DoubleLine Opportunistic Credit Fund by 7.0% in the 1st quarter. Ameriprise Financial Inc. now owns 65,537 shares of the investment management company’s stock valued at $929,000 after purchasing an additional 4,267 shares in the last quarter. Elequin Securities LLC purchased a new position in shares of DoubleLine Opportunistic Credit Fund in the 1st quarter valued at about $40,000. Sit Investment Associates Inc. increased its stake in shares of DoubleLine Opportunistic Credit Fund by 4.3% in the 1st quarter. Sit Investment Associates Inc. now owns 2,623,465 shares of the investment management company’s stock valued at $37,201,000 after purchasing an additional 107,699 shares in the last quarter. Aviance Capital Partners LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 1.3% in the 1st quarter. Aviance Capital Partners LLC now owns 233,750 shares of the investment management company’s stock valued at $3,315,000 after purchasing an additional 2,999 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 10.6% in the 1st quarter. Guggenheim Capital LLC now owns 74,057 shares of the investment management company’s stock valued at $1,050,000 after purchasing an additional 7,105 shares in the last quarter.

DoubleLine Opportunistic Credit Fund Company Profile

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Doubleline Opportunistic Credit Fund operates as a closed-end investment fund or investment trust. The firm invests in debt securities and income-producing investments of any kind, including, without limitation, residential and commercial mortgage-backed securities, asset-backed securities, the United States Government securities, corporate debt, international sovereign debt, and short-term investments.