DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Pass Below Fifty Day Moving Average – Should You Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $14.89 and traded as low as $14.24. DoubleLine Opportunistic Credit Fund shares last traded at $14.2450, with a volume of 49,218 shares traded.

DoubleLine Opportunistic Credit Fund Price Performance

The business has a fifty day moving average of $14.89 and a 200-day moving average of $15.23.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 18th will be paid a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Wednesday, March 18th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Several hedge funds and other institutional investors have recently made changes to their positions in DBL. Sit Investment Associates Inc. raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 2.0% in the 4th quarter. Sit Investment Associates Inc. now owns 3,469,728 shares of the investment management company’s stock worth $52,913,000 after acquiring an additional 68,213 shares during the last quarter. Gridiron Partners LLC lifted its position in DoubleLine Opportunistic Credit Fund by 5,475.8% in the 3rd quarter. Gridiron Partners LLC now owns 2,231,257 shares of the investment management company’s stock valued at $348,000 after acquiring an additional 2,191,240 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in DoubleLine Opportunistic Credit Fund by 3.0% during the 4th quarter. Evergreen Capital Management LLC now owns 527,230 shares of the investment management company’s stock valued at $8,040,000 after purchasing an additional 15,319 shares during the last quarter. Bank of America Corp DE increased its holdings in DoubleLine Opportunistic Credit Fund by 86.3% during the 3rd quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock worth $6,846,000 after purchasing an additional 203,536 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in DoubleLine Opportunistic Credit Fund by 20.2% during the 4th quarter. Royal Bank of Canada now owns 306,202 shares of the investment management company’s stock worth $4,670,000 after purchasing an additional 51,394 shares in the last quarter.

DoubleLine Opportunistic Credit Fund Company Profile

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.