DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Crosses Below Fifty Day Moving Average – What’s Next?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.26 and traded as low as $15.02. DoubleLine Opportunistic Credit Fund shares last traded at $15.07, with a volume of 57,754 shares.

DoubleLine Opportunistic Credit Fund Price Performance

The stock’s 50 day simple moving average is $15.26 and its two-hundred day simple moving average is $15.37.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm 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. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date is Wednesday, January 14th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Gridiron Partners LLC boosted its position in DoubleLine Opportunistic Credit Fund by 5,475.8% during 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. Catawba River Capital purchased a new position in shares of DoubleLine Opportunistic Credit Fund in the 2nd quarter valued at approximately $3,590,000. Bank of America Corp DE boosted its position in shares of DoubleLine Opportunistic Credit Fund by 86.3% during the third quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock valued at $6,846,000 after purchasing an additional 203,536 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in DoubleLine Opportunistic Credit Fund in the third quarter worth $2,593,000. Finally, Stratos Wealth Advisors LLC raised its holdings in DoubleLine Opportunistic Credit Fund by 114.6% in the third quarter. Stratos Wealth Advisors LLC now owns 251,623 shares of the investment management company’s stock worth $3,920,000 after purchasing an additional 134,396 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.