DoubleLine Opportunistic Credit Fund (NYSE:DBL) Short Interest Down 34.1% in May

by · The Markets Daily

DoubleLine Opportunistic Credit Fund (NYSE:DBL – Get Free Report) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 43,970 shares, a drop of 34.1% from the May 14th total of 66,679 shares. Based on an average daily trading volume, of 37,653 shares, the short-interest ratio is presently 1.2 days.

DoubleLine Opportunistic Credit Fund Price Performance

Shares of NYSE DBL opened at $14.50 on Tuesday. DoubleLine Opportunistic Credit Fund has a 1-year low of $14.07 and a 1-year high of $16.01. The stock’s 50-day moving average is $14.39 and its 200 day moving average is $14.80.

DoubleLine Opportunistic Credit Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 17th will be paid a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Wednesday, June 17th.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

A number of large investors have recently bought and sold shares of DBL. Royal Bank of Canada increased its stake in DoubleLine Opportunistic Credit Fund by 22.2% in the 1st quarter. Royal Bank of Canada now owns 223,083 shares of the investment management company’s stock worth $3,486,000 after purchasing an additional 40,495 shares during the period. XTX Topco Ltd purchased a new position in DoubleLine Opportunistic Credit Fund in the 2nd quarter worth approximately $156,000. Bank of America Corp DE increased its stake in DoubleLine Opportunistic Credit Fund by 8.9% in the 2nd quarter. Bank of America Corp DE now owns 235,865 shares of the investment management company’s stock worth $3,628,000 after purchasing an additional 19,246 shares during the period. Balyasny Asset Management L.P. purchased a new position in DoubleLine Opportunistic Credit Fund in the 2nd quarter worth approximately $439,000. Finally, Evergreen Capital Management LLC increased its stake in DoubleLine Opportunistic Credit Fund by 8.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 500,142 shares of the investment management company’s stock worth $7,692,000 after purchasing an additional 37,678 shares during the period.

About DoubleLine Opportunistic Credit Fund

(Get Free Report)

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.

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