DoubleLine Opportunistic Credit Fund (NYSE:DBL) Short Interest Update
by Sarita Garza · The Markets DailyDoubleLine Opportunistic Credit Fund (NYSE:DBL – Get Free Report) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 120,297 shares, a growth 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 presently 2.1 days.
Institutional Trading of DoubleLine Opportunistic Credit Fund
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of DoubleLine Opportunistic Credit Fund by 22.2% during the 1st quarter. Royal Bank of Canada now owns 223,083 shares of the investment management company’s stock worth $3,486,000 after purchasing an additional 40,495 shares during the last quarter. XTX Topco Ltd acquired a new position in DoubleLine Opportunistic Credit Fund during the second quarter worth $156,000. Bank of America Corp DE increased its holdings in DoubleLine Opportunistic Credit Fund by 8.9% during the second quarter. Bank of America Corp DE now owns 235,865 shares of the investment management company’s stock worth $3,628,000 after buying an additional 19,246 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in DoubleLine Opportunistic Credit Fund during the second quarter worth $439,000. Finally, Evergreen Capital Management LLC lifted its stake in DoubleLine Opportunistic Credit Fund by 8.1% in the second quarter. Evergreen Capital Management LLC now owns 500,142 shares of the investment management company’s stock valued at $7,692,000 after acquiring an additional 37,678 shares during the last quarter.
DoubleLine Opportunistic Credit Fund Stock Performance
DBL traded up $0.01 during trading hours on Tuesday, hitting $14.35. 87,108 shares of the company’s stock were exchanged, compared to its average volume of 71,821. DoubleLine Opportunistic Credit Fund has a 1-year low of $14.07 and a 1-year high of $16.01. The stock’s 50-day moving average is $14.37 and its two-hundred day moving average is $14.73.
DoubleLine Opportunistic Credit Fund Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 17th will be paid a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Wednesday, June 17th.
DoubleLine Opportunistic Credit Fund Company Profile
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.