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

DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed above its fifty day moving average during trading on Friday . The stock has a fifty 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 trading hands.

DoubleLine Opportunistic Credit Fund Stock Down 0.1 %

The business’s 50 day simple moving average is $15.48 and its 200 day simple moving average is $15.59.

DoubleLine Opportunistic Credit Fund Announces Dividend

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

Institutional Trading of DoubleLine Opportunistic Credit Fund

Several hedge funds and other institutional investors have recently made changes to their positions in DBL. Matrix Trust Co purchased a new stake in shares of DoubleLine Opportunistic Credit Fund in the third quarter valued at about $68,000. EverSource Wealth Advisors LLC purchased a new stake in DoubleLine Opportunistic Credit Fund during the second quarter worth about $145,000. Truist Financial Corp boosted its holdings in DoubleLine Opportunistic Credit Fund by 5.9% during the second quarter. Truist Financial Corp now owns 11,626 shares of the investment management company’s stock worth $179,000 after buying an additional 650 shares in the last quarter. Kavar Capital Partners Group LLC purchased a new stake in DoubleLine Opportunistic Credit Fund during the third quarter worth about $181,000. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in DoubleLine Opportunistic Credit Fund by 18.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 15,554 shares of the investment management company’s stock worth $246,000 after buying an additional 2,447 shares in 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.