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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the target of a significant 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 daily volume of 37,653 shares, the short-interest ratio is currently 1.2 days.

DoubleLine Opportunistic Credit Fund Price Performance

NYSE DBL traded down $0.12 on Wednesday, hitting $14.38. 34,769 shares of the stock traded hands, compared to its average volume of 71,298. The business’s fifty day moving average is $14.39 and its two-hundred day moving average is $14.80. DoubleLine Opportunistic Credit Fund has a 12 month low of $14.07 and a 12 month high of $16.01.

DoubleLine Opportunistic Credit Fund Dividend Announcement

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

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in DoubleLine Opportunistic Credit Fund by 22.7% during the first quarter. Royal Bank of Canada now owns 375,823 shares of the investment management company’s stock worth $5,487,000 after purchasing an additional 69,621 shares during the period. Cetera Investment Advisers lifted its stake in shares of DoubleLine Opportunistic Credit Fund by 51.6% during the 1st quarter. Cetera Investment Advisers now owns 25,950 shares of the investment management company’s stock valued at $379,000 after buying an additional 8,837 shares in the last quarter. Aviance Capital Partners LLC lifted its stake in shares of DoubleLine Opportunistic Credit Fund by 6.2% during the 1st quarter. Aviance Capital Partners LLC now owns 95,072 shares of the investment management company’s stock valued at $1,388,000 after buying an additional 5,523 shares in the last quarter. Independent Financial Group LLC bought a new position in DoubleLine Opportunistic Credit Fund in the 1st quarter worth approximately $982,000. Finally, Journey Advisory Group LLC grew its stake in DoubleLine Opportunistic Credit Fund by 1.1% in the 1st quarter. Journey Advisory Group LLC now owns 173,374 shares of the investment management company’s stock valued at $2,531,000 after buying an additional 1,944 shares in the last quarter.

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.