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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.08 and traded as low as $14.52. DoubleLine Opportunistic Credit Fund shares last traded at $14.6050, with a volume of 67,610 shares trading hands.

DoubleLine Opportunistic Credit Fund Stock Performance

The stock has a 50-day moving average of $15.05 and a 200-day moving average of $15.31.

DoubleLine Opportunistic Credit Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Total Investment Management Inc. bought a new stake in DoubleLine Opportunistic Credit Fund during the second quarter worth about $65,000. XTX Topco Ltd bought a new position in DoubleLine Opportunistic Credit Fund in the 2nd quarter valued at about $156,000. Papamarkou Wellner Asset Management inc. acquired a new position in shares of DoubleLine Opportunistic Credit Fund in the 4th quarter valued at approximately $160,000. Blackhawk Capital Partners LLC bought a new stake in shares of DoubleLine Opportunistic Credit Fund during the 3rd quarter worth approximately $163,000. Finally, World Equity Group Inc. lifted its holdings in shares of DoubleLine Opportunistic Credit Fund by 7.2% during the 3rd quarter. World Equity Group Inc. now owns 11,100 shares of the investment management company’s stock worth $173,000 after acquiring an additional 750 shares during the period.

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.