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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.38 and traded as low as $15.17. DoubleLine Opportunistic Credit Fund shares last traded at $15.18, with a volume of 21,596 shares.

DoubleLine Opportunistic Credit Fund Trading Down 0.3%

The company has a 50-day moving average price of $15.38 and a two-hundred day moving average price of $15.42.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Wednesday, December 17th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new position in shares of DoubleLine Opportunistic Credit Fund in the second quarter worth $44,000. Total Investment Management Inc. purchased a new position in DoubleLine Opportunistic Credit Fund during the second quarter worth about $65,000. XTX Topco Ltd bought a new position in DoubleLine Opportunistic Credit Fund in the 2nd quarter worth about $156,000. Blackhawk Capital Partners LLC bought a new position in DoubleLine Opportunistic Credit Fund in the 3rd quarter worth about $163,000. Finally, World Equity Group Inc. raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 7.2% in 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 in the last quarter.

About DoubleLine Opportunistic Credit Fund

DoubleLine Opportunistic Credit Fund (NYSE: DBL) is a closed-end management investment company designed to seek high current income by investing across a broad spectrum of credit instruments. The fund pursues an opportunistic strategy, allocating capital to non-investment-grade debt obligations, leveraged loans, high-yield bonds, structured credit products and other credit-related securities. As part of its flexible mandate, the fund may employ derivatives and repurchase agreements to hedge risk, manage duration and enhance yield.