Short Interest in DoubleLine Opportunistic Credit Fund (NYSE:DBL) Rises By 173.6%

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 120,297 shares, an increase of 173.6% from the May 31st total of 43,970 shares. Based on an average daily volume of 56,647 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of DoubleLine Opportunistic Credit Fund by 22.2% in the first quarter. Royal Bank of Canada now owns 223,083 shares of the investment management company’s stock valued at $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 during the 2nd quarter worth $156,000. Bank of America Corp DE increased its holdings in DoubleLine Opportunistic Credit Fund by 8.9% during 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. bought a new stake in DoubleLine Opportunistic Credit Fund during the 2nd quarter valued at $439,000. Finally, Evergreen Capital Management LLC raised its position in DoubleLine Opportunistic Credit Fund by 8.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 500,142 shares of the investment management company’s stock valued at $7,692,000 after purchasing an additional 37,678 shares in the last quarter.

DoubleLine Opportunistic Credit Fund Stock Down 0.1%

DBL stock opened at $14.34 on Monday. DoubleLine Opportunistic Credit Fund has a 12 month low of $14.07 and a 12 month high of $16.01. The firm’s 50-day moving average is $14.37 and its 200 day moving average is $14.74.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 17th will be given a $0.11 dividend. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend is Wednesday, June 17th.

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.