DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Cross Below 50 Day Moving Average – What’s Next?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.39 and traded as low as $14.34. DoubleLine Opportunistic Credit Fund shares last traded at $14.36, with a volume of 22,936 shares traded.

DoubleLine Opportunistic Credit Fund Price Performance

The stock has a fifty day moving average price of $14.40 and a 200 day moving average price of $14.82.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 17th will be given a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Wednesday, June 17th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sit Investment Associates Inc. raised its position in shares of DoubleLine Opportunistic Credit Fund by 2.0% in the fourth quarter. Sit Investment Associates Inc. now owns 3,469,728 shares of the investment management company’s stock worth $52,913,000 after buying an additional 68,213 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of DoubleLine Opportunistic Credit Fund by 3.0% in the fourth quarter. Evergreen Capital Management LLC now owns 527,230 shares of the investment management company’s stock worth $8,040,000 after buying an additional 15,319 shares in the last quarter. Bank of America Corp DE raised its position in shares of DoubleLine Opportunistic Credit Fund by 86.3% in the third quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock worth $6,846,000 after buying an additional 203,536 shares in the last quarter. Royal Bank of Canada raised its position in shares of DoubleLine Opportunistic Credit Fund by 22.7% in the first quarter. Royal Bank of Canada now owns 375,823 shares of the investment management company’s stock worth $5,487,000 after buying an additional 69,621 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of DoubleLine Opportunistic Credit Fund by 6.6% in the third quarter. Ameriprise Financial Inc. now owns 294,470 shares of the investment management company’s stock worth $4,587,000 after buying an additional 18,295 shares in 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.