DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.56 and traded as low as $14.02. DoubleLine Opportunistic Credit Fund shares last traded at $14.0740, with a volume of 46,217 shares changing hands.

DoubleLine Opportunistic Credit Fund Stock Performance

The stock’s 50 day moving average price is $14.28 and its two-hundred day moving average price is $14.56.

DoubleLine Opportunistic Credit Fund Announces Dividend

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

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Large investors have recently added to or reduced their stakes in the business. Maridea Wealth Management LLC acquired a new position in shares of DoubleLine Opportunistic Credit Fund during the 1st quarter valued at about $177,000. Absolute Investment Advisers LLC acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the first quarter worth approximately $2,820,000. Apriem Advisors boosted its position in shares of DoubleLine Opportunistic Credit Fund by 19.9% in the fourth quarter. Apriem Advisors now owns 24,110 shares of the investment management company’s stock worth $368,000 after acquiring an additional 4,000 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in DoubleLine Opportunistic Credit Fund by 2.0% in the fourth quarter. Sit Investment Associates Inc. now owns 3,469,728 shares of the investment management company’s stock valued at $52,913,000 after purchasing an additional 68,213 shares during the period. Finally, Intellectus Partners LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 2.0% in the fourth quarter. Intellectus Partners LLC now owns 290,261 shares of the investment management company’s stock valued at $4,426,000 after purchasing an additional 5,656 shares during the period.

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.