DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Crosses Below 50-Day Moving Average – Time to Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.16 and traded as low as $14.10. DoubleLine Opportunistic Credit Fund shares last traded at $14.1450, with a volume of 49,438 shares changing hands.

DoubleLine Opportunistic Credit Fund Trading Down 0.6%

The firm has a 50-day moving average of $14.15 and a 200 day moving average of $14.35.

DoubleLine Opportunistic Credit Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in DoubleLine Opportunistic Credit Fund in the 2nd quarter worth approximately $37,000. Fifth Third Bancorp purchased a new position in shares of DoubleLine Opportunistic Credit Fund in the 1st quarter worth $55,000. Ascentis Independent Advisors purchased a new position in shares of DoubleLine Opportunistic Credit Fund in the 1st quarter worth $108,000. XTX Topco Ltd bought a new stake in shares of DoubleLine Opportunistic Credit Fund in the second quarter worth $156,000. Finally, Papamarkou Wellner Asset Management inc. bought a new stake in shares of DoubleLine Opportunistic Credit Fund during the 4th quarter valued at about $160,000.

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.