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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 53,134 shares, a drop of 55.8% from the June 15th total of 120,297 shares. Based on an average daily volume of 79,640 shares, the short-interest ratio is currently 0.7 days.

DoubleLine Opportunistic Credit Fund Trading Down 0.8%

DoubleLine Opportunistic Credit Fund stock traded down $0.11 during mid-day trading on Wednesday, reaching $14.14. 42,562 shares of the company traded hands, compared to its average volume of 71,527. DoubleLine Opportunistic Credit Fund has a fifty-two week low of $14.07 and a fifty-two week high of $16.01. The firm’s fifty day moving average is $14.36 and its two-hundred day moving average is $14.65.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Several hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC lifted its holdings in shares of DoubleLine Opportunistic Credit Fund by 6.5% in the 4th quarter. Kestra Advisory Services LLC now owns 13,270 shares of the investment management company’s stock valued at $202,000 after buying an additional 805 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of DoubleLine Opportunistic Credit Fund by 4.6% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 18,637 shares of the investment management company’s stock worth $284,000 after buying an additional 818 shares during the last quarter. Strategic Wealth Partners Ltd. grew its holdings in DoubleLine Opportunistic Credit Fund by 1.1% during the third quarter. Strategic Wealth Partners Ltd. now owns 88,316 shares of the investment management company’s stock worth $1,376,000 after acquiring an additional 980 shares during the period. Commonwealth Equity Services LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 11.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 18,565 shares of the investment management company’s stock worth $283,000 after acquiring an additional 1,910 shares during the period. Finally, Journey Advisory Group LLC raised its position in DoubleLine Opportunistic Credit Fund by 1.1% during the first quarter. Journey Advisory Group LLC now owns 173,374 shares of the investment management company’s stock valued at $2,531,000 after acquiring 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.