DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Pass Below 50 Day Moving Average – Here’s Why

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 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 company has a 50-day moving average price of $14.89 and a two-hundred day moving average price of $15.23.

DoubleLine Opportunistic Credit Fund Dividend Announcement

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

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Several institutional investors have recently made changes to their positions in the stock. Total Investment Management Inc. acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the 2nd quarter valued at about $65,000. XTX Topco Ltd acquired a new position in DoubleLine Opportunistic Credit Fund during the 2nd quarter worth approximately $156,000. Blackhawk Capital Partners LLC bought a new position in DoubleLine Opportunistic Credit Fund in the third quarter worth approximately $163,000. Papamarkou Wellner Asset Management inc. bought a new position in DoubleLine Opportunistic Credit Fund in the fourth quarter worth approximately $160,000. Finally, World Equity Group Inc. grew its stake in DoubleLine Opportunistic Credit Fund by 7.2% in the third 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 period.

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.