DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Cross Below 200-Day Moving Average – Should You Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.95 and traded as low as $14.21. DoubleLine Opportunistic Credit Fund shares last traded at $14.2420, with a volume of 53,752 shares changing hands.

DoubleLine Opportunistic Credit Fund Stock Up 1.0%

The stock has a fifty day moving average of $14.43 and a 200-day moving average of $14.93.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a c) annualized dividend and a yield of 9.2%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC boosted its position in shares of DoubleLine Opportunistic Credit Fund by 6.5% in the 4th quarter. Kestra Advisory Services LLC now owns 13,270 shares of the investment management company’s stock worth $202,000 after purchasing an additional 805 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of DoubleLine Opportunistic Credit Fund by 4.6% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 18,637 shares of the investment management company’s stock worth $284,000 after purchasing an additional 818 shares during the last quarter. Strategic Wealth Partners Ltd. grew its holdings in DoubleLine Opportunistic Credit Fund by 1.1% during the third quarter. Strategic Wealth Partners Ltd. now owns 88,316 shares of the investment management company’s stock valued at $1,376,000 after purchasing an additional 980 shares during the period. Verus Capital Partners LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 3.8% during the third quarter. Verus Capital Partners LLC now owns 33,211 shares of the investment management company’s stock valued at $517,000 after purchasing an additional 1,223 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 11.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 18,565 shares of the investment management company’s stock valued at $283,000 after purchasing an additional 1,910 shares during the period.

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.