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

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.36 and traded as low as $14.26. DoubleLine Opportunistic Credit Fund shares last traded at $14.29, with a volume of 38,525 shares traded.

DoubleLine Opportunistic Credit Fund Stock Down 0.1%

The stock’s 50 day moving average is $14.36 and its 200 day moving average is $14.67.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a $0.11 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp purchased a new stake in DoubleLine Opportunistic Credit Fund in the 1st quarter valued at approximately $55,000. Ascentis Independent Advisors purchased a new position in DoubleLine Opportunistic Credit Fund during the first quarter worth $108,000. XTX Topco Ltd acquired a new position in shares of DoubleLine Opportunistic Credit Fund in the second quarter worth $156,000. Papamarkou Wellner Asset Management inc. acquired a new position in shares of DoubleLine Opportunistic Credit Fund in the fourth quarter worth $160,000. Finally, Maridea Wealth Management LLC purchased a new stake in shares of DoubleLine Opportunistic Credit Fund in the first quarter valued at $177,000.

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.