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

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.00 and traded as low as $14.50. DoubleLine Opportunistic Credit Fund shares last traded at $14.5750, with a volume of 133,748 shares.

DoubleLine Opportunistic Credit Fund Stock Down 0.5%

The firm’s 50-day moving average price is $15.00 and its 200 day moving average price is $15.28.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date is Wednesday, March 18th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Large investors have recently modified their holdings of the business. World Equity Group Inc. boosted its stake in shares of DoubleLine Opportunistic Credit Fund by 7.2% during the third quarter. World Equity Group Inc. now owns 11,100 shares of the investment management company’s stock valued at $173,000 after purchasing an additional 750 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 6.5% in the fourth quarter. Kestra Advisory Services LLC now owns 13,270 shares of the investment management company’s stock valued at $202,000 after buying an additional 805 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 4.6% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 18,637 shares of the investment management company’s stock valued at $284,000 after buying an additional 818 shares during the period. Strategic Wealth Partners Ltd. raised its holdings in DoubleLine Opportunistic Credit Fund by 1.1% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 88,316 shares of the investment management company’s stock valued at $1,376,000 after buying an additional 980 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in DoubleLine Opportunistic Credit Fund by 1.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 90,219 shares of the investment management company’s stock valued at $1,406,000 after buying an additional 1,197 shares during 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.