DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.43 and traded as low as $15.28. DoubleLine Opportunistic Credit Fund shares last traded at $15.34, with a volume of 62,673 shares traded.

DoubleLine Opportunistic Credit Fund Stock Performance

The stock has a 50 day simple moving average of $15.43 and a 200-day simple moving average of $15.44.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date is Wednesday, December 17th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. World Equity Group Inc. increased its holdings in DoubleLine Opportunistic Credit Fund by 7.2% in the 3rd quarter. World Equity Group Inc. now owns 11,100 shares of the investment management company’s stock valued at $173,000 after acquiring an additional 750 shares during the last quarter. Journey Advisory Group LLC increased its holdings in shares of DoubleLine Opportunistic Credit Fund by 0.4% in the second quarter. Journey Advisory Group LLC now owns 169,914 shares of the investment management company’s stock worth $2,613,000 after purchasing an additional 754 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of DoubleLine Opportunistic Credit Fund by 1.8% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 47,463 shares of the investment management company’s stock worth $730,000 after purchasing an additional 839 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its stake in DoubleLine Opportunistic Credit Fund by 1.1% during the third 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, Mallini Complete Financial Planning LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 10.3% during the 2nd 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 in the last quarter.

About DoubleLine Opportunistic Credit Fund

DoubleLine Opportunistic Credit Fund is a close-ended fixed income mutual fund launched and managed by DoubleLine Capital LP. The fund invests in the fixed income markets. It invests in debt securities including residential and commercial mortgage-backed securities, asset-backed securities, U.S Government securities, corporate debt, international sovereign debt, and short-term investments.The fund benchmarks the performance of its portfolio against the Barclays Capital U.S.