DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Shares of DoubleLine Opportunistic Credit Fund (NYSE:DBL) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.51 and traded as high as $15.63. DoubleLine Opportunistic Credit Fund shares last traded at $15.60, with a volume of 61,864 shares traded.

DoubleLine Opportunistic Credit Fund Price Performance

The company has a 50 day moving average price of $15.51 and a 200 day moving average price of $15.61.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.32 dividend on an annualized basis and a yield of 8.46%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in 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 buying an additional 2,156,851 shares in the last quarter. Twelve Points Wealth Management LLC raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 29.4% in the fourth quarter. Twelve Points Wealth Management LLC now owns 378,659 shares of the investment management company’s stock valued at $5,869,000 after purchasing an additional 85,958 shares during the last quarter. Intellectus Partners LLC raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 29.6% in the third quarter. Intellectus Partners LLC now owns 235,971 shares of the investment management company’s stock valued at $3,733,000 after purchasing an additional 53,959 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of DoubleLine Opportunistic Credit Fund by 3.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 195,409 shares of the investment management company’s stock valued at $3,029,000 after purchasing an additional 6,605 shares in the last quarter. Finally, Ignite Planners LLC boosted its holdings in DoubleLine Opportunistic Credit Fund by 1.6% during the fourth quarter. Ignite Planners LLC now owns 83,309 shares of the investment management company’s stock worth $1,292,000 after purchasing an additional 1,307 shares during the last quarter.

About DoubleLine Opportunistic Credit Fund

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.