Enables 3',5'-cyclic-AMP phosphodiesterase activity and phosphoprotein binding activity. Involved in negative regulation of cAMP-mediated signaling and negative regulation of insulin secretion involved in cellular response to glucose stimulus. Predicted to be located in Golgi apparatus and endoplasmic reticulum. Predicted to be part of guanyl-nucleotide exchange factor complex. Predicted to be active in membrane. Orthologous to human PDE3B (phosphodiesterase 3B). [provided by Alliance of Genome Resources, Apr 2022]