Short Interest in DoubleLine Opportunistic Credit Fund (NYSE:DBL) Increases By 69.2%

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 154,000 shares, an increase of 69.2% from the December 15th total of 91,000 shares. Based on an average daily trading volume, of 67,200 shares, the days-to-cover ratio is currently 2.3 days.

DoubleLine Opportunistic Credit Fund Price Performance

Shares of DBL stock traded up $0.02 on Friday, reaching $15.60. 8,599 shares of the company’s stock were exchanged, compared to its average volume of 71,417. The company’s fifty day simple moving average is $15.50 and its 200 day simple moving average is $15.61. DoubleLine Opportunistic Credit Fund has a 52 week low of $14.49 and a 52 week high of $16.25.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.46%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DBL. Matrix Trust Co purchased a new stake in DoubleLine Opportunistic Credit Fund in the 3rd quarter valued at about $68,000. EverSource Wealth Advisors LLC bought a new position in DoubleLine Opportunistic Credit Fund in the second quarter worth approximately $145,000. Transform Wealth LLC purchased a new position in DoubleLine Opportunistic Credit Fund during the 4th quarter worth $167,000. Truist Financial Corp raised its position in DoubleLine Opportunistic Credit Fund by 5.9% during the 2nd quarter. Truist Financial Corp now owns 11,626 shares of the investment management company’s stock valued at $179,000 after purchasing an additional 650 shares in the last quarter. Finally, Kavar Capital Partners Group LLC purchased a new stake in shares of DoubleLine Opportunistic Credit Fund in the 3rd quarter worth $181,000.

About DoubleLine Opportunistic Credit Fund

DoubleLine Opportunistic Credit Fund is a close-ended fixed income mutual fund launched and managed by DoubleLine Capital LP. The fund invests in the fixed income markets. It invests in debt securities including residential and commercial mortgage-backed securities, asset-backed securities, U.S Government securities, corporate debt, international sovereign debt, and short-term investments.The fund benchmarks the performance of its portfolio against the Barclays Capital U.S.