DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.00 and traded as low as $14.50. DoubleLine Opportunistic Credit Fund shares last traded at $14.5550, with a volume of 38,078 shares traded.

DoubleLine Opportunistic Credit Fund Price Performance

The company has a 50-day moving average of $14.51 and a 200 day moving average of $15.00.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, May 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. World Equity Group Inc. raised its holdings in shares of 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 in the last quarter. Kestra Advisory Services LLC grew its holdings in 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. Ashton Thomas Private Wealth LLC increased its position in DoubleLine Opportunistic Credit Fund by 4.6% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 18,637 shares of the investment management company’s stock valued at $284,000 after purchasing an additional 818 shares during the period. Strategic Wealth Partners Ltd. increased its position in DoubleLine Opportunistic Credit Fund by 1.1% during 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 during the period. Finally, Aviance Capital Partners LLC raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 1.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 90,219 shares of the investment management company’s stock valued at $1,406,000 after purchasing an additional 1,197 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.