DoubleLine Fund VP Sherman Buys 10,000 DLY Shares at $13.03

A vice president at DoubleLine Yield Opportunities Fund bought 10,000 shares of the closed-end fund on the open market, according to a Nasdaq report. Jeffrey J. Sherman paid $13.03 per share on September 24, 2026, an outlay of $130,300.00.

Trading the following Tuesday offered retail buyers a slightly better entry than the executive got. Nasdaq reported that DLY shares changed hands as low as $13.01 during the session, below Sherman’s cost per share. The fund was down about 0.3% on the day, with a last trade of $13.04 at the time of the report.

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Key facts

• Jeffrey J. Sherman, Vice President of DoubleLine Yield Opportunities Fund, bought 10,000 shares of DLY on September 24, 2026 at $13.03 per share.
• The purchase was worth $130,300.00, the only DLY insider buying recorded over the past six months.
• DLY traded as low as $13.01 on Tuesday, below the insider’s cost basis.
• The fund’s 52-week range runs from a low of $12.95 to a high of $15.26 per share, against a last trade of $13.04.
• DLY pays a current annualized dividend of $1.4004 per share in monthly installments, an annualized yield of about 10.7%, with a most recent ex-date of September 16, 2026.

An insider buy at a 10.7% yield

Wall Street’s long-standing shorthand holds that there are many reasons to sell a stock but only one reason to buy, and buyers who follow insider activity tend to lean on that logic. The inference Nasdaq draws is that an executive spending personal cash in the open market expects the position to pay off. Sherman’s trade stands out in the six-month insider table because it is the only entry on it.

The purchase sits near the bottom of DLY’s 52-week range rather than the top. The fund’s shares have traded between $12.95 and $15.26 over the past year, and at $13.03 the insider paid close to the low end of that band. That placement is the part bargain hunters focus on: an insider buying near a yearly low carries a different signal than one adding at a high.

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The yield is the other half of the story. DLY distributes $1.4004 per share annually in monthly installments, which works out to roughly 10.7% on the recent share price. Monthly payouts are common among closed-end funds, which return capital to holders on a fixed schedule rather than at a board’s quarterly discretion. Nasdaq notes that a long-term dividend history is one way to judge whether a distribution at this level can be maintained.

Why it matters

For income-focused holders, the combination of a double-digit headline yield and an executive purchase near the 52-week low is the core of the case for looking at DLY now. Closed-end funds can trade above or below the value of their underlying holdings, so the entry price matters as much as the payout rate, and an insider paying $13.03 sets a visible reference point for what one executive considered reasonable.

Retail investors also have a small structural advantage here that they rarely get: the ability to buy at or below the price the insider paid. That is a modest edge rather than a guarantee, and it says nothing about how the fund’s underlying portfolio will perform.

What to watch

The next monthly distribution, and its ex-date, is the near-term data point for anyone tracking whether the current 10.7% annualized rate holds. Nasdaq also flagged a companion list of nine other dividend payers trading below insider purchase prices for readers comparing alternatives.

This article is not financial advice. Income funds, dividend rates and share prices can change without notice, and a high headline yield does not assure a given return.

Written by

Benjamin

Benjamin Carter covers business, finance, and the stock market for StockPil, focusing on the trends and data that matter to everyday investors.

Source: Nasdaq