September 13, 2023: DoubleLine ETF Adviser LP, an investment management firm, purchased 20,263 shares of Oracle Co. (NYSE: ORCL) in the third quarter, according to its latest 13F filing with the Securities and Exchange Commission. The purchase valued the shares at approximately $1.88 million.
Oracle is a multinational technology company that provides various software and cloud computing services. The company’s stock has been on a tear in recent months, rising more than 20% in the third quarter.
DoubleLine ETF Adviser LP is a subsidiary of DoubleLine Capital, a leading investment management firm. The firm manages over $100 billion in assets.
The purchase of Oracle shares by DoubleLine ETF Adviser LP is a bullish signal for the company. It suggests that the investment firm believes that Oracle is a good investment and that its stock price is undervalued.
Here are some actional and practical takeaways from the article:
Here is a simple framework for understanding the purchase: