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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 142,600 shares, an increase of 24.1% from the August 31st total of 114,900 shares. Based on an average daily trading volume, of 49,000 shares, the short-interest ratio is currently 2.9 days.

DoubleLine Opportunistic Credit Fund Price Performance

Shares of NYSE:DBL traded down $0.04 during trading on Monday, hitting $15.83. 21,359 shares of the stock were exchanged, compared to its average volume of 52,472. The company has a fifty day moving average price of $15.79 and a two-hundred day moving average price of $15.38. DoubleLine Opportunistic Credit Fund has a 12-month low of $13.75 and a 12-month high of $16.25.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.32 annualized dividend and a dividend yield of 8.34%.

Institutional Trading of DoubleLine Opportunistic Credit Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shaker Financial Services LLC acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the second quarter worth approximately $2,213,000. Verus Capital Partners LLC lifted its holdings in DoubleLine Opportunistic Credit Fund by 5.3% in the 2nd quarter. Verus Capital Partners LLC now owns 35,852 shares of the investment management company’s stock worth $551,000 after buying an additional 1,798 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new stake in DoubleLine Opportunistic Credit Fund during the 2nd quarter valued at approximately $862,000. International Assets Investment Management LLC grew its position in shares of DoubleLine Opportunistic Credit Fund by 38.4% during the second quarter. International Assets Investment Management LLC now owns 142,064 shares of the investment management company’s stock worth $2,182,000 after buying an additional 39,433 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of DoubleLine Opportunistic Credit Fund by 15.0% during the first quarter. Comerica Bank now owns 28,463 shares of the investment management company’s stock worth $439,000 after purchasing an additional 3,710 shares during the last quarter.

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.