DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Pass Above 50-Day Moving Average – What’s Next?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.32 and traded as high as $15.34. DoubleLine Opportunistic Credit Fund shares last traded at $15.2850, with a volume of 35,503 shares traded.

DoubleLine Opportunistic Credit Fund Price Performance

The stock’s 50 day moving average price is $15.32 and its 200 day moving average price is $15.39.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a c) dividend on an annualized basis and a yield of 8.6%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DBL. Royal Bank of Canada boosted its position in shares of DoubleLine Opportunistic Credit Fund by 22.2% during the 1st quarter. Royal Bank of Canada now owns 223,083 shares of the investment management company’s stock valued at $3,486,000 after purchasing an additional 40,495 shares in the last quarter. Mallini Complete Financial Planning LLC lifted its stake in DoubleLine Opportunistic Credit Fund by 10.3% in the second quarter. Mallini Complete Financial Planning LLC now owns 12,176 shares of the investment management company’s stock valued at $187,000 after buying an additional 1,137 shares during the period. Matrix Trust Co lifted its stake in DoubleLine Opportunistic Credit Fund by 6.5% in the second quarter. Matrix Trust Co now owns 50,160 shares of the investment management company’s stock valued at $771,000 after buying an additional 3,068 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of DoubleLine Opportunistic Credit Fund by 1.8% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 47,463 shares of the investment management company’s stock worth $730,000 after buying an additional 839 shares in the last quarter. Finally, EWG Elevate Inc. grew its position in shares of DoubleLine Opportunistic Credit Fund by 11.9% during the 2nd quarter. EWG Elevate Inc. now owns 11,530 shares of the investment management company’s stock worth $177,000 after buying an additional 1,230 shares during the period.

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.