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

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sit Investment Associates Inc. grew its position in shares of DoubleLine Opportunistic Credit Fund by 2.0% in the 4th 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 raised its holdings 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 purchasing an additional 2,191,240 shares during the period. Evergreen Capital Management LLC raised its holdings 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 purchasing an additional 15,319 shares during the period. Bank of America Corp DE raised its holdings 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 purchasing an additional 203,536 shares during the period. Finally, Royal Bank of Canada raised its holdings 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 purchasing an additional 51,394 shares during the period.

DoubleLine Opportunistic Credit Fund Stock Performance

Shares of DoubleLine Opportunistic Credit Fund stock traded down $0.01 during trading on Friday, reaching $14.39. The company had a trading volume of 260,843 shares, compared to its average volume of 78,525. The firm’s fifty day moving average is $14.68 and its 200-day 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 Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be given 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%.

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.