DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Passes Below 50 Day Moving Average – Should You Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.16 and traded as low as $14.10. DoubleLine Opportunistic Credit Fund shares last traded at $14.1450, with a volume of 49,438 shares traded.

DoubleLine Opportunistic Credit Fund Price Performance

The stock has a 50 day moving average of $14.16 and a 200 day moving average of $14.36.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.11 dividend. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Wednesday, September 16th.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Several hedge funds and other institutional investors have recently made changes to their positions in DBL. Kestra Advisory Services LLC boosted its position in shares of DoubleLine Opportunistic Credit Fund by 6.5% during the 4th quarter. Kestra Advisory Services LLC now owns 13,270 shares of the investment management company’s stock worth $202,000 after acquiring an additional 805 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its holdings in shares of DoubleLine Opportunistic Credit Fund by 1.1% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 88,316 shares of the investment management company’s stock valued at $1,376,000 after purchasing an additional 980 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 11.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 18,565 shares of the investment management company’s stock valued at $283,000 after purchasing an additional 1,910 shares during the last quarter. Journey Advisory Group LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 1.1% in the 1st quarter. Journey Advisory Group LLC now owns 173,374 shares of the investment management company’s stock valued at $2,531,000 after purchasing an additional 1,944 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 16.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,725 shares of the investment management company’s stock worth $261,000 after buying an additional 2,387 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.