DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.61 and traded as low as $14.03. DoubleLine Opportunistic Credit Fund shares last traded at $14.0350, with a volume of 72,607 shares changing hands.

DoubleLine Opportunistic Credit Fund Trading Up 0.2%

The stock has a fifty day moving average of $14.31 and a 200 day moving average of $14.60.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 9.4%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in DoubleLine Opportunistic Credit Fund by 22.2% during the first quarter. Royal Bank of Canada now owns 223,083 shares of the investment management company’s stock worth $3,486,000 after buying an additional 40,495 shares during the last quarter. XTX Topco Ltd bought a new position in shares of DoubleLine Opportunistic Credit Fund during the 2nd quarter valued at approximately $156,000. Bank of America Corp DE grew its position in shares of DoubleLine Opportunistic Credit Fund by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 235,865 shares of the investment management company’s stock valued at $3,628,000 after acquiring an additional 19,246 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of DoubleLine Opportunistic Credit Fund during the 2nd quarter worth approximately $439,000. Finally, Evergreen Capital Management LLC raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 8.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 500,142 shares of the investment management company’s stock worth $7,692,000 after purchasing an additional 37,678 shares during the period.

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.