DoubleLine Income Solutions Fund (NYSE:DSL) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of DoubleLine Income Solutions Fund (NYSE:DSL) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.27 and traded as low as $11.06. DoubleLine Income Solutions Fund shares last traded at $11.1270, with a volume of 447,612 shares traded.

DoubleLine Income Solutions Fund Price Performance

The firm’s 50-day simple moving average is $11.01 and its 200 day simple moving average is $11.27.

DoubleLine Income Solutions Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a c) annualized dividend and a dividend yield of 11.9%.

Institutional Trading of DoubleLine Income Solutions Fund

Several hedge funds and other institutional investors have recently modified their holdings of DSL. Wells Fargo & Company MN raised its position in shares of DoubleLine Income Solutions Fund by 68.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,352,914 shares of the company’s stock valued at $26,517,000 after purchasing an additional 955,010 shares during the period. Rivernorth Capital Management LLC bought a new stake in shares of DoubleLine Income Solutions Fund in the fourth quarter valued at approximately $8,466,000. 1607 Capital Partners LLC bought a new stake in shares of DoubleLine Income Solutions Fund in the fourth quarter valued at approximately $5,433,000. Independent Financial Group LLC bought a new stake in shares of DoubleLine Income Solutions Fund in the first quarter valued at approximately $3,508,000. Finally, Balyasny Asset Management L.P. raised its position in shares of DoubleLine Income Solutions Fund by 277.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 416,584 shares of the company’s stock valued at $4,695,000 after purchasing an additional 306,316 shares during the period.

About DoubleLine Income Solutions Fund

The DoubleLine Income Solutions Fund (NYSE: DSL) is a closed-end management investment company designed to deliver high current income and total return. The fund seeks to achieve its investment objective through monthly distributions of interest and dividend income, with the potential for capital appreciation. It trades on the New York Stock Exchange, offering investors convenient access to a diversified portfolio of fixed-income securities within a single listed vehicle.

The fund’s portfolio typically comprises a multi-sector mix of fixed-income instruments, including corporate bonds, mortgage-backed securities, asset-backed securities, municipal debt and emerging-market bonds.