DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Crosses Above 50 Day Moving Average – What’s Next?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.25 and traded as high as $14.47. DoubleLine Opportunistic Credit Fund shares last traded at $14.23, with a volume of 104,370 shares traded.

DoubleLine Opportunistic Credit Fund Trading Down 0.5%

The stock has a 50-day moving average of $14.25 and a 200 day moving average of $14.50.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a c) dividend on an annualized basis and a yield of 9.3%.

Institutional Trading of DoubleLine Opportunistic Credit Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in DBL. Sit Investment Associates Inc. lifted its position in DoubleLine Opportunistic Credit Fund by 2.0% during the 4th 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. Avior Wealth Management LLC increased its position in DoubleLine Opportunistic Credit Fund by 3.9% in the 2nd quarter. Avior Wealth Management LLC now owns 596,287 shares of the investment management company’s stock valued at $8,575,000 after acquiring an additional 22,321 shares in the last quarter. Evergreen Capital Management LLC raised its stake 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 acquiring an additional 15,319 shares during the last quarter. Bank of America Corp DE raised its stake 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 acquiring an additional 203,536 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of DoubleLine Opportunistic Credit Fund by 22.7% during the first quarter. Royal Bank of Canada now owns 375,823 shares of the investment management company’s stock worth $5,487,000 after purchasing an additional 69,621 shares in the last quarter.

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.