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

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

DoubleLine Opportunistic Credit Fund Price Performance

DBL traded down $0.01 during trading hours on Friday, reaching $14.39. 260,843 shares of the stock traded hands, compared to its average volume of 78,525. The firm’s fifty day simple moving average is $14.68 and its two-hundred day simple moving average is $15.11. DoubleLine Opportunistic Credit Fund has a fifty-two week low of $14.07 and a fifty-two week high of $16.01.

DoubleLine Opportunistic Credit Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. lifted its stake in shares of DoubleLine Opportunistic Credit Fund by 2.0% in the fourth quarter. Sit Investment Associates Inc. now owns 3,469,728 shares of the investment management company’s stock worth $52,913,000 after acquiring an additional 68,213 shares in the last quarter. Gridiron Partners LLC grew its position in shares of DoubleLine Opportunistic Credit Fund by 5,475.8% during the third quarter. Gridiron Partners LLC now owns 2,231,257 shares of the investment management company’s stock worth $348,000 after buying an additional 2,191,240 shares in the last quarter. Evergreen Capital Management LLC grew its position in shares of DoubleLine Opportunistic Credit Fund by 3.0% during the fourth quarter. Evergreen Capital Management LLC now owns 527,230 shares of the investment management company’s stock worth $8,040,000 after buying an additional 15,319 shares in the last quarter. Bank of America Corp DE grew its position in shares of DoubleLine Opportunistic Credit Fund by 86.3% during the third quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock worth $6,846,000 after buying an additional 203,536 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of DoubleLine Opportunistic Credit Fund by 20.2% during the fourth quarter. Royal Bank of Canada now owns 306,202 shares of the investment management company’s stock worth $4,670,000 after buying an additional 51,394 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.