DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Crosses Above 50-Day Moving Average – Time to Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $15.46 and traded as high as $15.47. DoubleLine Opportunistic Credit Fund shares last traded at $15.3830, with a volume of 43,953 shares traded.

DoubleLine Opportunistic Credit Fund Trading Down 0.3%

The business’s 50-day moving average price is $15.46 and its two-hundred day moving average price is $15.45.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 28th. Shareholders of record on Wednesday, November 19th were paid a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend was Wednesday, November 19th.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. grew its position in shares of 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 valued at $49,528,000 after purchasing an additional 227,699 shares during the period. Gridiron Partners LLC lifted its stake in DoubleLine Opportunistic Credit Fund by 5,475.8% in the third quarter. Gridiron Partners LLC now owns 2,231,257 shares of the investment management company’s stock valued at $348,000 after buying an additional 2,191,240 shares in the last quarter. LeConte Wealth Management LLC acquired a new position in shares of DoubleLine Opportunistic Credit Fund in the first quarter valued at approximately $14,666,000. Evergreen Capital Management LLC increased its position in shares of DoubleLine Opportunistic Credit Fund by 2.4% during the third quarter. Evergreen Capital Management LLC now owns 511,911 shares of the investment management company’s stock worth $7,976,000 after acquiring an additional 11,769 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of DoubleLine Opportunistic Credit Fund by 86.3% during the third quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock worth $6,846,000 after acquiring an additional 203,536 shares in the last quarter.

DoubleLine Opportunistic Credit Fund Company Profile

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.