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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 279,507 shares, a decline of 14.2% from the December 31st total of 325,933 shares. Based on an average trading volume of 46,090 shares, the days-to-cover ratio is presently 6.1 days. Based on an average trading volume of 46,090 shares, the days-to-cover ratio is presently 6.1 days.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

A number of large investors have recently bought and sold shares of DBL. Ameritas Advisory Services LLC acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the second quarter valued at approximately $44,000. Total Investment Management Inc. acquired a new stake in DoubleLine Opportunistic Credit Fund in the 2nd quarter valued at $65,000. XTX Topco Ltd bought a new stake in DoubleLine Opportunistic Credit Fund during the 2nd quarter worth about $156,000. Blackhawk Capital Partners LLC bought a new stake in DoubleLine Opportunistic Credit Fund during the 3rd quarter worth about $163,000. Finally, World Equity Group Inc. boosted its stake in shares of DoubleLine Opportunistic Credit Fund by 7.2% during the 3rd quarter. World Equity Group Inc. now owns 11,100 shares of the investment management company’s stock worth $173,000 after buying an additional 750 shares during the last quarter.

DoubleLine Opportunistic Credit Fund Price Performance

DBL stock traded up $0.03 during trading hours on Tuesday, reaching $15.15. 22,294 shares of the stock were exchanged, compared to its average volume of 51,776. The firm’s 50-day moving average is $15.25 and its 200-day moving average is $15.37. DoubleLine Opportunistic Credit Fund has a 12 month low of $14.49 and a 12 month high of $16.01.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 18th will be given a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Wednesday, February 18th.

DoubleLine Opportunistic Credit Fund Company Profile

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.