DoubleLine Opportunistic Credit Fund (NYSE:DBL) Sees Significant Drop in Short Interest

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 265,800 shares, a decline of 6.2% from the January 15th total of 283,500 shares. Based on an average daily volume of 60,500 shares, the short-interest ratio is presently 4.4 days.

DoubleLine Opportunistic Credit Fund Price Performance

NYSE DBL opened at $15.76 on Wednesday. DoubleLine Opportunistic Credit Fund has a 52-week low of $14.49 and a 52-week high of $16.25. The firm has a 50-day moving average price of $15.61 and a 200 day moving average price of $15.64.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 19th will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date of this dividend is Wednesday, February 19th.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Morse Asset Management Inc grew its position in DoubleLine Opportunistic Credit Fund by 150.9% during the fourth quarter. Morse Asset Management Inc now owns 1,882 shares of the investment management company’s stock worth $29,000 after buying an additional 1,132 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the 4th quarter worth approximately $31,000. Huntington National Bank purchased a new position in DoubleLine Opportunistic Credit Fund in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in DoubleLine Opportunistic Credit Fund during the fourth quarter worth $62,000. Finally, Transform Wealth LLC acquired a new position in DoubleLine Opportunistic Credit Fund during the fourth quarter worth $167,000.

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.