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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 66,679 shares, an increase of 171.8% from the April 30th total of 24,528 shares. Based on an average daily trading volume, of 57,458 shares, the short-interest ratio is presently 1.2 days.

DoubleLine Opportunistic Credit Fund Price Performance

Shares of NYSE:DBL traded up $0.05 during trading on Friday, reaching $14.42. 26,914 shares of the company’s stock traded hands, compared to its average volume of 73,453. DoubleLine Opportunistic Credit Fund has a 12 month low of $14.07 and a 12 month high of $16.01. The company has a 50 day moving average of $14.39 and a 200-day moving average of $14.88.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend was Wednesday, May 13th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

A number of institutional investors have recently modified their holdings of DBL. Bank of America Corp DE grew its position in shares of DoubleLine Opportunistic Credit Fund by 86.3% during the 3rd 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 last quarter. Absolute Investment Advisers LLC bought a new stake in shares of DoubleLine Opportunistic Credit Fund during the 1st quarter valued at about $2,820,000. Polar Asset Management Partners Inc. bought a new position in DoubleLine Opportunistic Credit Fund in the 3rd quarter worth about $2,593,000. Stratos Wealth Advisors LLC grew its position in DoubleLine Opportunistic Credit Fund by 114.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 251,623 shares of the investment management company’s stock worth $3,920,000 after purchasing an additional 134,396 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in DoubleLine Opportunistic Credit Fund by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 268,441 shares of the investment management company’s stock worth $4,094,000 after purchasing an additional 78,416 shares during 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.