DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.48 and traded as high as $15.62. DoubleLine Opportunistic Credit Fund shares last traded at $15.54, with a volume of 101,784 shares traded.

DoubleLine Opportunistic Credit Fund Stock Down 0.1 %

The stock’s 50 day moving average is $15.48 and its 200 day moving average is $15.60.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.49%.

Institutional Trading of DoubleLine Opportunistic Credit Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of DoubleLine Opportunistic Credit Fund by 1,518.2% during the third quarter. International Assets Investment Management LLC now owns 2,298,915 shares of the investment management company’s stock worth $36,369,000 after purchasing an additional 2,156,851 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in DoubleLine Opportunistic Credit Fund by 26.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 427,304 shares of the investment management company’s stock worth $6,563,000 after buying an additional 89,314 shares during the last quarter. Intellectus Partners LLC grew its holdings in DoubleLine Opportunistic Credit Fund by 29.6% in the 3rd quarter. Intellectus Partners LLC now owns 235,971 shares of the investment management company’s stock valued at $3,733,000 after buying an additional 53,959 shares during the period. Twelve Points Wealth Management LLC increased its stake in shares of DoubleLine Opportunistic Credit Fund by 14.9% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 292,701 shares of the investment management company’s stock valued at $4,631,000 after acquiring an additional 37,986 shares during the last quarter. Finally, Kavar Capital Partners Group LLC purchased a new position in shares of DoubleLine Opportunistic Credit Fund during the 3rd quarter worth about $181,000.

DoubleLine Opportunistic Credit Fund Company Profile

DoubleLine Opportunistic Credit Fund is a close-ended fixed income mutual fund launched and managed by DoubleLine Capital LP. The fund invests in the fixed income markets. It invests in debt securities including residential and commercial mortgage-backed securities, asset-backed securities, U.S Government securities, corporate debt, international sovereign debt, and short-term investments.The fund benchmarks the performance of its portfolio against the Barclays Capital U.S.