DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Passes Below 50-Day Moving Average – Here’s What Happened

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.45 and traded as low as $15.28. DoubleLine Opportunistic Credit Fund shares last traded at $15.29, with a volume of 67,589 shares traded.

DoubleLine Opportunistic Credit Fund Stock Performance

The firm’s 50 day simple moving average is $15.45 and its 200 day simple moving average is $15.44.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%.

Institutional Trading of DoubleLine Opportunistic Credit Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of DoubleLine Opportunistic Credit Fund during the second quarter valued at approximately $44,000. Total Investment Management Inc. purchased a new stake in shares of DoubleLine Opportunistic Credit Fund in the second quarter worth approximately $65,000. XTX Topco Ltd bought a new stake in shares of DoubleLine Opportunistic Credit Fund during the 2nd quarter worth approximately $156,000. Blackhawk Capital Partners LLC purchased a new position in DoubleLine Opportunistic Credit Fund during the 3rd quarter valued at $163,000. Finally, World Equity Group Inc. boosted its holdings in DoubleLine Opportunistic Credit Fund by 7.2% during the 3rd quarter. World Equity Group Inc. now owns 11,100 shares of the investment management company’s stock valued at $173,000 after acquiring an additional 750 shares during the period.

DoubleLine Opportunistic Credit Fund Company Profile

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.