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

Shares of DoubleLine Opportunistic Credit Fund (NYSE:DBL) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.63 and traded as low as $15.54. DoubleLine Opportunistic Credit Fund shares last traded at $15.58, with a volume of 24,774 shares.

DoubleLine Opportunistic Credit Fund Price Performance

The stock’s fifty day moving average price is $15.68 and its 200 day moving average price is $15.62.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, March 19th will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.46%. The ex-dividend date is Wednesday, March 19th.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Several institutional investors have recently modified their holdings of the company. Morse Asset Management Inc lifted its position in DoubleLine Opportunistic Credit Fund by 150.9% in the 4th quarter. Morse Asset Management Inc now owns 1,882 shares of the investment management company’s stock worth $29,000 after buying an additional 1,132 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of DoubleLine Opportunistic Credit Fund during the fourth quarter worth approximately $31,000. Huntington National Bank bought a new stake in shares of DoubleLine Opportunistic Credit Fund in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new stake in shares of DoubleLine Opportunistic Credit Fund in the 4th quarter valued at $62,000. Finally, Transform Wealth LLC purchased a new stake in shares of DoubleLine Opportunistic Credit Fund in the 4th quarter valued at $167,000.

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.