DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Pass Below 50 Day Moving Average – Time to Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.38 and traded as low as $15.17. DoubleLine Opportunistic Credit Fund shares last traded at $15.18, with a volume of 21,596 shares changing hands.

DoubleLine Opportunistic Credit Fund Price Performance

The stock has a 50-day moving average of $15.38 and a 200 day moving average of $15.42.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.11 dividend. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Wednesday, December 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new position in DoubleLine Opportunistic Credit Fund in the third quarter valued at approximately $2,593,000. Strategic Wealth Partners Ltd. boosted its holdings in shares of DoubleLine Opportunistic Credit Fund by 1.1% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 88,316 shares of the investment management company’s stock valued at $1,376,000 after purchasing an additional 980 shares in the last quarter. Bank of America Corp DE increased its stake in shares of DoubleLine Opportunistic Credit Fund by 86.3% in the 3rd quarter. Bank of America Corp DE now owns 439,401 shares of the investment management company’s stock valued at $6,846,000 after purchasing an additional 203,536 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of DoubleLine Opportunistic Credit Fund by 6.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 294,470 shares of the investment management company’s stock valued at $4,587,000 after purchasing an additional 18,295 shares during the last quarter. Finally, Intellectus Partners LLC raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 1.2% during the 3rd quarter. Intellectus Partners LLC now owns 284,605 shares of the investment management company’s stock worth $4,434,000 after buying an additional 3,322 shares in the last quarter.

About DoubleLine Opportunistic Credit Fund

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.