DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Crosses Below Fifty Day Moving Average – What’s Next?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares crossed 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 trading hands.

DoubleLine Opportunistic Credit Fund Price Performance

The stock has a 50-day simple moving average of $15.45 and a 200 day simple moving average of $15.58.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 8.51%. The ex-dividend date of this dividend was Wednesday, December 18th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in DoubleLine Opportunistic Credit Fund by 1,518.2% during the third quarter. International Assets Investment Management LLC now owns 2,298,915 shares of the investment management company’s stock worth $36,369,000 after buying an additional 2,156,851 shares in the last quarter. Shaker Financial Services LLC acquired a new position in DoubleLine Opportunistic Credit Fund during the 2nd quarter worth about $2,213,000. Evergreen Capital Management LLC raised its holdings in DoubleLine Opportunistic Credit Fund by 26.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 427,304 shares of the investment management company’s stock worth $6,563,000 after purchasing an additional 89,314 shares during the last quarter. Intellectus Partners LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 29.6% during the 3rd quarter. Intellectus Partners LLC now owns 235,971 shares of the investment management company’s stock worth $3,733,000 after acquiring an additional 53,959 shares during the period. Finally, Twelve Points Wealth Management LLC lifted its stake in DoubleLine Opportunistic Credit Fund by 14.9% in the third quarter. Twelve Points Wealth Management LLC now owns 292,701 shares of the investment management company’s stock valued at $4,631,000 after buying an additional 37,986 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.