DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.39 and traded as low as $14.34. DoubleLine Opportunistic Credit Fund shares last traded at $14.36, with a volume of 22,936 shares traded.

DoubleLine Opportunistic Credit Fund Trading Down 0.1%

The business’s fifty day simple moving average is $14.39 and its 200 day simple moving average is $14.83.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend is Wednesday, June 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its stake in DoubleLine Opportunistic Credit Fund by 6.5% during the 4th quarter. Kestra Advisory Services LLC now owns 13,270 shares of the investment management company’s stock worth $202,000 after acquiring an additional 805 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in DoubleLine Opportunistic Credit Fund by 4.6% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 18,637 shares of the investment management company’s stock worth $284,000 after acquiring an additional 818 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its stake in DoubleLine Opportunistic Credit Fund by 1.1% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 88,316 shares of the investment management company’s stock worth $1,376,000 after acquiring an additional 980 shares during the last quarter. Verus Capital Partners LLC boosted its stake in DoubleLine Opportunistic Credit Fund by 3.8% during the 3rd quarter. Verus Capital Partners LLC now owns 33,211 shares of the investment management company’s stock worth $517,000 after acquiring an additional 1,223 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in DoubleLine Opportunistic Credit Fund by 11.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,565 shares of the investment management company’s stock worth $283,000 after acquiring an additional 1,910 shares during 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.