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

Shares of DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $15.45 and traded as high as $15.46. DoubleLine Opportunistic Credit Fund shares last traded at $15.40, with a volume of 56,439 shares changing hands.

DoubleLine Opportunistic Credit Fund Price Performance

The stock has a fifty day simple moving average of $15.44 and a two-hundred day simple moving average of $15.56.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.32 annualized dividend and a yield of 8.54%.

Institutional Trading of DoubleLine Opportunistic Credit Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Truist Financial Corp raised its stake in DoubleLine Opportunistic Credit Fund by 5.9% during the 2nd quarter. Truist Financial Corp now owns 11,626 shares of the investment management company’s stock valued at $179,000 after purchasing an additional 650 shares during the period. Ignite Planners LLC increased its stake in DoubleLine Opportunistic Credit Fund by 1.5% in the third quarter. Ignite Planners LLC now owns 82,002 shares of the investment management company’s stock valued at $1,297,000 after acquiring an additional 1,249 shares during the period. Janney Montgomery Scott LLC lifted its holdings in DoubleLine Opportunistic Credit Fund by 0.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 188,804 shares of the investment management company’s stock valued at $2,987,000 after purchasing an additional 1,400 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 5.7% in the second quarter. Wedbush Securities Inc. now owns 29,024 shares of the investment management company’s stock valued at $446,000 after buying an additional 1,561 shares during the last quarter. Finally, Verus Capital Partners LLC boosted its position in DoubleLine Opportunistic Credit Fund by 5.3% in the 2nd quarter. Verus Capital Partners LLC now owns 35,852 shares of the investment management company’s stock valued at $551,000 after buying an additional 1,798 shares during the last quarter.

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.