DoubleLine Opportunistic Credit Fund to Issue Monthly Dividend of $0.11 (NYSE:DBL)

DoubleLine Opportunistic Credit Fund (NYSE:DBL) announced a monthly dividend on Friday, May 1st. Stockholders of record on Wednesday, May 13th will be given a dividend of 0.11 per share by the investment management company on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Wednesday, May 13th.

DoubleLine Opportunistic Credit Fund Trading Up 0.5%

Shares of NYSE DBL traded up $0.08 during mid-day trading on Friday, reaching $14.52. 75,883 shares of the company’s stock were exchanged, compared to its average volume of 79,496. The firm has a 50-day moving average price of $14.54 and a two-hundred day moving average price of $15.03. DoubleLine Opportunistic Credit Fund has a 52 week low of $14.07 and a 52 week high of $16.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ascentis Independent Advisors bought a new position in shares of DoubleLine Opportunistic Credit Fund during the 1st quarter valued at approximately $108,000. XTX Topco Ltd purchased a new position in DoubleLine Opportunistic Credit Fund in the second quarter valued at approximately $156,000. Papamarkou Wellner Asset Management inc. purchased a new position in DoubleLine Opportunistic Credit Fund in the fourth quarter valued at approximately $160,000. Blackhawk Capital Partners LLC bought a new position in DoubleLine Opportunistic Credit Fund during the third quarter valued at $163,000. Finally, World Equity Group Inc. grew its holdings in DoubleLine Opportunistic Credit Fund by 7.2% during the third quarter. World Equity Group Inc. now owns 11,100 shares of the investment management company’s stock valued at $173,000 after purchasing an additional 750 shares during the period.

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.