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

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.61 and traded as low as $15.56. DoubleLine Opportunistic Credit Fund shares last traded at $15.58, with a volume of 35,873 shares traded.

DoubleLine Opportunistic Credit Fund Price Performance

The stock has a 50-day moving average of $15.68 and a 200-day moving average of $15.61.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, March 19th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $1.32 annualized dividend and a dividend yield of 8.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Wealth Partners Ltd. raised its stake in DoubleLine Opportunistic Credit Fund by 0.8% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 87,336 shares of the investment management company’s stock valued at $1,370,000 after purchasing an additional 700 shares in the last quarter. Morse Asset Management Inc raised its position in shares of DoubleLine Opportunistic Credit Fund by 150.9% during the 4th quarter. Morse Asset Management Inc now owns 1,882 shares of the investment management company’s stock valued at $29,000 after buying an additional 1,132 shares in the last quarter. Ignite Planners LLC lifted its holdings in shares of DoubleLine Opportunistic Credit Fund by 1.6% during the 4th quarter. Ignite Planners LLC now owns 83,309 shares of the investment management company’s stock worth $1,292,000 after acquiring an additional 1,307 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of DoubleLine Opportunistic Credit Fund by 3.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 47,814 shares of the investment management company’s stock worth $741,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its stake in DoubleLine Opportunistic Credit Fund by 12.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 17,500 shares of the investment management company’s stock valued at $271,000 after acquiring an additional 1,946 shares during the last quarter.

About DoubleLine Opportunistic Credit Fund

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.