Short Interest in DoubleLine Opportunistic Credit Fund (NYSE:DBL) Declines By 9.3%

DoubleLine Opportunistic Credit Fund (NYSE:DBL) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 73,300 shares, a drop of 9.3% from the July 31st total of 80,800 shares. Based on an average daily volume of 41,600 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in DoubleLine Opportunistic Credit Fund in the second quarter valued at approximately $145,000. SkyOak Wealth LLC acquired a new stake in DoubleLine Opportunistic Credit Fund in the first quarter valued at $156,000. Avantax Advisory Services Inc. bought a new position in shares of DoubleLine Opportunistic Credit Fund in the 4th quarter valued at about $178,000. Truist Financial Corp increased its stake in shares of 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 worth $179,000 after purchasing an additional 650 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of DoubleLine Opportunistic Credit Fund during the 1st quarter worth about $187,000.

DoubleLine Opportunistic Credit Fund Trading Up 0.1 %

Shares of NYSE:DBL traded up $0.02 during midday trading on Tuesday, reaching $15.81. 29,772 shares of the company were exchanged, compared to its average volume of 50,552. DoubleLine Opportunistic Credit Fund has a fifty-two week low of $13.75 and a fifty-two week high of $15.99. The stock has a fifty day simple moving average of $15.60 and a two-hundred day simple moving average of $15.27.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 8.35%. The ex-dividend date of this dividend was Wednesday, August 14th.

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.