DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Passes Above 50-Day Moving Average of $15.75

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.75 and traded as high as $16.02. DoubleLine Opportunistic Credit Fund shares last traded at $15.96, with a volume of 59,637 shares traded.

DoubleLine Opportunistic Credit Fund Stock Performance

The company has a 50 day moving average of $15.75 and a 200-day moving average of $15.35.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 8.27%. The ex-dividend date is Wednesday, September 18th.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in DoubleLine Opportunistic Credit Fund in the second quarter valued at $145,000. SkyOak Wealth LLC bought a new stake in DoubleLine Opportunistic Credit Fund in the first quarter valued at $156,000. Truist Financial Corp lifted its stake in DoubleLine Opportunistic Credit Fund by 5.9% in the second quarter. Truist Financial Corp now owns 11,626 shares of the investment management company’s stock valued at $179,000 after buying an additional 650 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in DoubleLine Opportunistic Credit Fund in the fourth quarter valued at $178,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in DoubleLine Opportunistic Credit Fund in the first quarter valued at $187,000.

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.