DoubleLine Income Solutions Fund (NYSE:DSL) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

DoubleLine Income Solutions Fund (NYSE:DSL)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.73 and traded as low as $11.47. DoubleLine Income Solutions Fund shares last traded at $11.4850, with a volume of 295,724 shares changing hands.

DoubleLine Income Solutions Fund Price Performance

The company has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $11.73.

DoubleLine Income Solutions Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a c) dividend on an annualized basis and a yield of 11.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McGowan Group Asset Management Inc. boosted its stake in shares of DoubleLine Income Solutions Fund by 1.1% during the 2nd quarter. McGowan Group Asset Management Inc. now owns 3,225,943 shares of the company’s stock worth $39,486,000 after acquiring an additional 35,833 shares in the last quarter. Wells Fargo & Company MN raised its holdings in DoubleLine Income Solutions Fund by 68.3% in the 4th quarter. Wells Fargo & Company MN now owns 2,352,914 shares of the company’s stock worth $26,517,000 after purchasing an additional 955,010 shares during the period. Invesco Ltd. raised its holdings in DoubleLine Income Solutions Fund by 9.9% in the 4th quarter. Invesco Ltd. now owns 1,106,974 shares of the company’s stock worth $12,476,000 after purchasing an additional 99,870 shares during the period. UBS Group AG boosted its position in DoubleLine Income Solutions Fund by 3.9% during the third quarter. UBS Group AG now owns 1,058,810 shares of the company’s stock worth $13,002,000 after purchasing an additional 39,491 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in DoubleLine Income Solutions Fund by 11.8% in the fourth quarter. Royal Bank of Canada now owns 774,088 shares of the company’s stock valued at $8,724,000 after purchasing an additional 81,958 shares during the period.

DoubleLine Income Solutions Fund Company Profile

The DoubleLine Income Solutions Fund (NYSE: DSL) is a closed-end management investment company designed to deliver high current income and total return. The fund seeks to achieve its investment objective through monthly distributions of interest and dividend income, with the potential for capital appreciation. It trades on the New York Stock Exchange, offering investors convenient access to a diversified portfolio of fixed-income securities within a single listed vehicle.

The fund’s portfolio typically comprises a multi-sector mix of fixed-income instruments, including corporate bonds, mortgage-backed securities, asset-backed securities, municipal debt and emerging-market bonds.