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

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.39 and traded as low as $14.34. DoubleLine Opportunistic Credit Fund shares last traded at $14.36, with a volume of 22,936 shares traded.

DoubleLine Opportunistic Credit Fund Trading Down 0.1%

The business’s 50-day moving average is $14.39 and its 200-day moving average is $14.83.

DoubleLine Opportunistic Credit Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a c) dividend on an annualized basis and a yield of 9.2%.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. grew its holdings in DoubleLine Opportunistic Credit Fund by 2.0% during the 4th quarter. Sit Investment Associates Inc. now owns 3,469,728 shares of the investment management company’s stock worth $52,913,000 after acquiring an additional 68,213 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 3.0% during the 4th quarter. Evergreen Capital Management LLC now owns 527,230 shares of the investment management company’s stock worth $8,040,000 after acquiring an additional 15,319 shares during the last quarter. Bank of America Corp DE grew its holdings 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. Royal Bank of Canada grew its holdings in DoubleLine Opportunistic Credit Fund by 22.7% during the 1st quarter. Royal Bank of Canada now owns 375,823 shares of the investment management company’s stock worth $5,487,000 after acquiring an additional 69,621 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in DoubleLine Opportunistic Credit Fund by 6.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 294,470 shares of the investment management company’s stock worth $4,587,000 after acquiring an additional 18,295 shares during the last quarter.

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.