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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.46 and traded as low as $15.43. DoubleLine Opportunistic Credit Fund shares last traded at $15.45, with a volume of 25,492 shares changing hands.

DoubleLine Opportunistic Credit Fund Trading Down 0.2%

The stock’s 50-day moving average is $15.46 and its 200-day moving average is $15.44.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 8.5%.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Several hedge funds have recently modified their holdings of DBL. Sit Investment Associates Inc. increased its holdings in DoubleLine Opportunistic Credit Fund by 7.7% in the 1st quarter. Sit Investment Associates Inc. now owns 3,168,782 shares of the investment management company’s stock worth $49,528,000 after purchasing an additional 227,699 shares in the last quarter. LeConte Wealth Management LLC acquired a new stake in shares of DoubleLine Opportunistic Credit Fund during the first quarter valued at about $14,666,000. Evergreen Capital Management LLC grew its holdings in shares of DoubleLine Opportunistic Credit Fund by 8.1% during the second quarter. Evergreen Capital Management LLC now owns 500,142 shares of the investment management company’s stock worth $7,692,000 after purchasing an additional 37,678 shares during the last quarter. Twelve Points Wealth Management LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 6.8% in the second quarter. Twelve Points Wealth Management LLC now owns 398,592 shares of the investment management company’s stock valued at $6,130,000 after buying an additional 25,356 shares during the period. Finally, Intellectus Partners LLC raised its holdings in DoubleLine Opportunistic Credit Fund by 9.5% in the 2nd quarter. Intellectus Partners LLC now owns 281,283 shares of the investment management company’s stock valued at $4,326,000 after buying an additional 24,309 shares during the last quarter.

About DoubleLine Opportunistic Credit Fund

DoubleLine Opportunistic Credit Fund is a close-ended fixed income mutual fund launched and managed by DoubleLine Capital LP. The fund invests in the fixed income markets. It invests in debt securities including residential and commercial mortgage-backed securities, asset-backed securities, U.S Government securities, corporate debt, international sovereign debt, and short-term investments.The fund benchmarks the performance of its portfolio against the Barclays Capital U.S.