DoubleLine Income Solutions Fund (NYSE:DSL) Share Price Crosses Above 50-Day Moving Average – Here’s Why

DoubleLine Income Solutions Fund (NYSE:DSL) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.94 and traded as high as $11.04. DoubleLine Income Solutions Fund shares last traded at $10.9450, with a volume of 364,143 shares changing hands.

DoubleLine Income Solutions Fund Stock Performance

The stock has a 50 day simple moving average of $10.94 and a 200 day simple moving average of $11.11.

DoubleLine Income Solutions Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.11 per share. This represents a c) annualized dividend and a dividend yield of 12.1%. The ex-dividend date is Wednesday, July 15th.

Hedge Funds Weigh In On DoubleLine Income Solutions Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new stake in shares of DoubleLine Income Solutions Fund during the second quarter valued at approximately $28,000. Parallel Advisors LLC lifted its position in shares of DoubleLine Income Solutions Fund by 22.2% during the first quarter. Parallel Advisors LLC now owns 254,851 shares of the company’s stock worth $2,760,000 after purchasing an additional 46,309 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of DoubleLine Income Solutions Fund by 14.9% in the first quarter. NewEdge Advisors LLC now owns 187,974 shares of the company’s stock valued at $2,036,000 after purchasing an additional 24,416 shares during the period. Concorde Asset Management LLC boosted its stake in shares of DoubleLine Income Solutions Fund by 7.8% in the first quarter. Concorde Asset Management LLC now owns 35,800 shares of the company’s stock valued at $388,000 after purchasing an additional 2,600 shares during the period. Finally, Bank of America Corp DE grew its holdings in DoubleLine Income Solutions Fund by 255.8% during the 1st quarter. Bank of America Corp DE now owns 1,615,318 shares of the company’s stock valued at $17,494,000 after purchasing an additional 1,161,330 shares in the last quarter.

About DoubleLine Income Solutions Fund

The DoubleLine Income Solutions Fund (NYSE: DSL) is a closed-end management investment company designed to deliver high current income and total return. The fund seeks to achieve its investment objective through monthly distributions of interest and dividend income, with the potential for capital appreciation. It trades on the New York Stock Exchange, offering investors convenient access to a diversified portfolio of fixed-income securities within a single listed vehicle.

The fund’s portfolio typically comprises a multi-sector mix of fixed-income instruments, including corporate bonds, mortgage-backed securities, asset-backed securities, municipal debt and emerging-market bonds.