DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Passes Below 50-Day Moving Average – What’s Next?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.44 and traded as low as $15.26. DoubleLine Opportunistic Credit Fund shares last traded at $15.50, with a volume of 87,613 shares changing hands.

DoubleLine Opportunistic Credit Fund Price Performance

The stock’s fifty day moving average is $15.44 and its 200 day moving average is $15.58.

DoubleLine Opportunistic Credit Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.32 dividend on an annualized basis and a yield of 8.52%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Several large investors have recently modified their holdings of DBL. Matrix Trust Co bought a new stake in DoubleLine Opportunistic Credit Fund in the third quarter worth $68,000. EverSource Wealth Advisors LLC bought a new stake in shares of DoubleLine Opportunistic Credit Fund in the 2nd quarter worth about $145,000. Kavar Capital Partners Group LLC purchased a new position in shares of DoubleLine Opportunistic Credit Fund during the 3rd quarter worth about $181,000. Truist Financial Corp grew its holdings in DoubleLine Opportunistic Credit Fund by 5.9% during the 2nd quarter. Truist Financial Corp now owns 11,626 shares of the investment management company’s stock valued at $179,000 after purchasing an additional 650 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in DoubleLine Opportunistic Credit Fund by 18.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 15,554 shares of the investment management company’s stock worth $246,000 after purchasing an additional 2,447 shares during the period.

DoubleLine Opportunistic Credit Fund Company Profile

DoubleLine Opportunistic Credit Fund is a close-ended fixed income mutual fund launched and managed by DoubleLine Capital LP. The fund invests in the fixed income markets. It invests in debt securities including residential and commercial mortgage-backed securities, asset-backed securities, U.S Government securities, corporate debt, international sovereign debt, and short-term investments.The fund benchmarks the performance of its portfolio against the Barclays Capital U.S.