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

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.89 and traded as low as $14.24. DoubleLine Opportunistic Credit Fund shares last traded at $14.2450, with a volume of 49,218 shares.

DoubleLine Opportunistic Credit Fund Trading Down 0.1%

The business’s fifty day moving average is $14.87 and its 200-day moving average is $15.22.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 18th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Wednesday, March 18th.

Institutional Trading of DoubleLine Opportunistic Credit Fund

A number of large investors have recently bought and sold shares of the company. Gridiron Partners LLC grew its stake in shares of DoubleLine Opportunistic Credit Fund by 5,475.8% during the 3rd quarter. Gridiron Partners LLC now owns 2,231,257 shares of the investment management company’s stock worth $348,000 after acquiring an additional 2,191,240 shares during the period. Bank of America Corp DE raised its stake in DoubleLine Opportunistic Credit Fund by 86.3% in the 3rd quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock valued at $6,846,000 after acquiring an additional 203,536 shares during the period. Polar Asset Management Partners Inc. bought a new stake in DoubleLine Opportunistic Credit Fund in the 3rd quarter valued at about $2,593,000. Stratos Wealth Advisors LLC lifted its holdings in DoubleLine Opportunistic Credit Fund by 114.6% during the third quarter. Stratos Wealth Advisors LLC now owns 251,623 shares of the investment management company’s stock valued at $3,920,000 after purchasing an additional 134,396 shares during the last quarter. Finally, Berger Financial Group Inc bought a new position in DoubleLine Opportunistic Credit Fund during the third quarter worth about $1,643,000.

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.