Short Interest in DoubleLine Opportunistic Credit Fund (NYSE:DBL) Declines By 16.1%

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 83,732 shares, a drop of 16.1% from the March 15th total of 99,749 shares. Based on an average daily volume of 85,874 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Several institutional investors and hedge funds have recently made changes to their positions in DBL. Gridiron Partners LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 5,475.8% in the third 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 during the period. Bank of America Corp DE increased its stake in shares of DoubleLine Opportunistic Credit Fund by 86.3% in the third quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock valued at $6,846,000 after buying an additional 203,536 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the third quarter valued at about $2,593,000. Stratos Wealth Advisors LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 114.6% in 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 buying an additional 134,396 shares during the period. Finally, Berger Financial Group Inc acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the third quarter valued at about $1,643,000.

DoubleLine Opportunistic Credit Fund Price Performance

DoubleLine Opportunistic Credit Fund stock traded down $0.01 during trading hours on Friday, hitting $14.39. The stock had a trading volume of 260,843 shares, compared to its average volume of 78,525. DoubleLine Opportunistic Credit Fund has a one year low of $14.07 and a one year high of $16.01. The business’s 50 day simple moving average is $14.68 and its 200-day simple moving average is $15.11.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be given a $0.11 dividend. The ex-dividend date is Wednesday, April 15th. This represents a c) annualized dividend and a yield of 9.2%.

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.