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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.16 and traded as low as $14.10. DoubleLine Opportunistic Credit Fund shares last traded at $14.1450, with a volume of 49,438 shares.

DoubleLine Opportunistic Credit Fund Stock Down 0.7%

The business’s 50 day moving average price is $14.16 and its two-hundred day moving average price is $14.36.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in DoubleLine Opportunistic Credit Fund by 86.3% during the 3rd 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 during the last quarter. Absolute Investment Advisers LLC bought a new position in DoubleLine Opportunistic Credit Fund in the first quarter valued at about $2,820,000. Polar Asset Management Partners Inc. bought a new position in DoubleLine Opportunistic Credit Fund in the third quarter valued at about $2,593,000. Wells Fargo & Company MN boosted its stake in shares of DoubleLine Opportunistic Credit Fund by 41.3% during the fourth quarter. Wells Fargo & Company MN now owns 268,441 shares of the investment management company’s stock valued at $4,094,000 after purchasing an additional 78,416 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of DoubleLine Opportunistic Credit Fund by 22.7% during the first quarter. Royal Bank of Canada now owns 375,823 shares of the investment management company’s stock valued at $5,487,000 after purchasing an additional 69,621 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.