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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 99,749 shares, a drop of 26.9% from the February 26th total of 136,385 shares. Based on an average daily trading volume, of 104,746 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Institutional investors have recently modified their holdings of the company. Gridiron Partners LLC raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 5,475.8% during the 3rd quarter. Gridiron Partners LLC now owns 2,231,257 shares of the investment management company’s stock valued at $348,000 after buying an additional 2,191,240 shares in the last quarter. Bank of America Corp DE lifted its position in DoubleLine Opportunistic Credit Fund by 86.3% in the 3rd quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock worth $6,846,000 after buying an additional 203,536 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in DoubleLine Opportunistic Credit Fund in the third quarter worth approximately $2,593,000. Stratos Wealth Advisors LLC grew its position in DoubleLine Opportunistic Credit Fund by 114.6% during the third quarter. Stratos Wealth Advisors LLC now owns 251,623 shares of the investment management company’s stock valued at $3,920,000 after acquiring an additional 134,396 shares during the last quarter. Finally, Berger Financial Group Inc bought a new position in DoubleLine Opportunistic Credit Fund during the third quarter valued at approximately $1,643,000.

DoubleLine Opportunistic Credit Fund Stock Down 0.1%

NYSE:DBL traded down $0.02 during midday trading on Friday, hitting $14.24. The company had a trading volume of 211,476 shares, compared to its average volume of 71,298. DoubleLine Opportunistic Credit Fund has a 52-week low of $14.07 and a 52-week high of $16.01. The stock’s fifty day moving average price is $14.87 and its 200-day moving average price is $15.22.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a c) annualized dividend and a yield of 9.3%.

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.