DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Crosses Above 50 Day Moving Average – Should You Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.32 and traded as high as $15.34. DoubleLine Opportunistic Credit Fund shares last traded at $15.2850, with a volume of 35,503 shares.

DoubleLine Opportunistic Credit Fund Trading Up 0.1%

The firm has a fifty day simple moving average of $15.32 and a two-hundred day simple moving average of $15.39.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, January 14th. This represents a c) annualized dividend and a dividend yield of 8.6%.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Consolidated Portfolio Review Corp grew its stake in DoubleLine Opportunistic Credit Fund by 73.2% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 150,666 shares of the investment management company’s stock valued at $2,347,000 after buying an additional 63,663 shares in the last quarter. Intellectus Partners LLC lifted its position in shares of DoubleLine Opportunistic Credit Fund by 1.2% during the third quarter. Intellectus Partners LLC now owns 284,605 shares of the investment management company’s stock worth $4,434,000 after acquiring an additional 3,322 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of DoubleLine Opportunistic Credit Fund in the third quarter worth $2,593,000. Strategic Wealth Partners Ltd. grew its position in shares of DoubleLine Opportunistic Credit Fund by 1.1% in the third 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. Finally, Bank of America Corp DE grew its position in shares of DoubleLine Opportunistic Credit Fund by 86.3% in the third 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 in the last quarter.

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.