DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Passes Below 200 Day Moving Average – Here’s Why

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.63 and traded as low as $15.54. DoubleLine Opportunistic Credit Fund shares last traded at $15.58, with a volume of 24,774 shares trading hands.

DoubleLine Opportunistic Credit Fund Stock Performance

The stock’s 50-day moving average price is $15.68 and its two-hundred day moving average price is $15.62.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 8.46%. The ex-dividend date of this dividend is Wednesday, March 19th.

Institutional Trading of DoubleLine Opportunistic Credit Fund

Hedge funds have recently made changes to their positions in the company. Morse Asset Management Inc lifted its holdings in DoubleLine Opportunistic Credit Fund by 150.9% during the fourth quarter. Morse Asset Management Inc now owns 1,882 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 1,132 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in DoubleLine Opportunistic Credit Fund during the 4th quarter valued at $31,000. Huntington National Bank purchased a new stake in shares of DoubleLine Opportunistic Credit Fund during the fourth quarter worth $32,000. Golden State Wealth Management LLC bought a new position in shares of DoubleLine Opportunistic Credit Fund in the fourth quarter worth $62,000. Finally, Transform Wealth LLC purchased a new position in shares of DoubleLine Opportunistic Credit Fund in the fourth quarter valued at $167,000.

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.