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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 325,933 shares, a decrease of 17.2% from the December 15th total of 393,693 shares. Based on an average daily volume of 64,447 shares, the short-interest ratio is presently 5.1 days. Based on an average daily volume of 64,447 shares, the short-interest ratio is presently 5.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DBL. Royal Bank of Canada boosted its holdings in shares of DoubleLine Opportunistic Credit Fund by 22.2% in the first quarter. Royal Bank of Canada now owns 223,083 shares of the investment management company’s stock valued at $3,486,000 after acquiring an additional 40,495 shares in the last quarter. Matrix Trust Co raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 6.5% during the second quarter. Matrix Trust Co now owns 50,160 shares of the investment management company’s stock worth $771,000 after acquiring an additional 3,068 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of DoubleLine Opportunistic Credit Fund by 1.8% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 47,463 shares of the investment management company’s stock valued at $730,000 after buying an additional 839 shares in the last quarter. EWG Elevate Inc. grew its position in DoubleLine Opportunistic Credit Fund by 11.9% in the second quarter. EWG Elevate Inc. now owns 11,530 shares of the investment management company’s stock worth $177,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Twelve Points Wealth Management LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 6.8% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 398,592 shares of the investment management company’s stock worth $6,130,000 after purchasing an additional 25,356 shares during the last quarter.

DoubleLine Opportunistic Credit Fund Stock Performance

DBL stock traded down $0.02 during midday trading on Tuesday, reaching $15.14. The company had a trading volume of 62,673 shares, compared to its average volume of 47,861. The stock has a 50 day moving average price of $15.30 and a 200 day moving average price of $15.38. 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 Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a c) annualized dividend and a dividend yield of 8.7%.

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.