DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.00 and traded as low as $14.50. DoubleLine Opportunistic Credit Fund shares last traded at $14.5750, with a volume of 133,748 shares changing hands.

DoubleLine Opportunistic Credit Fund Trading Down 0.5%

The firm has a 50-day simple moving average of $15.00 and a two-hundred day simple moving average of $15.28.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 18th will be given a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Wednesday, March 18th.

Institutional Trading of DoubleLine Opportunistic Credit Fund

Institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its position in shares of DoubleLine Opportunistic Credit Fund by 66.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 42,761 shares of the investment management company’s stock worth $652,000 after purchasing an additional 17,140 shares in the last quarter. Papamarkou Wellner Asset Management inc. acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the fourth quarter valued at approximately $160,000. Readystate Asset Management LP acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the fourth quarter valued at approximately $224,000. Cetera Investment Advisers boosted its stake in shares of DoubleLine Opportunistic Credit Fund by 43.9% in the fourth quarter. Cetera Investment Advisers now owns 17,113 shares of the investment management company’s stock valued at $261,000 after buying an additional 5,221 shares during the period. Finally, Royal Bank of Canada grew its position in DoubleLine Opportunistic Credit Fund by 20.2% during the fourth quarter. Royal Bank of Canada now owns 306,202 shares of the investment management company’s stock worth $4,670,000 after buying an additional 51,394 shares in the last quarter.

About DoubleLine Opportunistic Credit Fund

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.