DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-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.

DoubleLine Opportunistic Credit Fund Trading Down 0.1 %

The stock’s 50-day moving average is $15.48 and its two-hundred day moving average is $15.59.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.49%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

Hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. boosted its position in DoubleLine Opportunistic Credit Fund by 5.7% in the 2nd 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 period. EverSource Wealth Advisors LLC purchased a new position in DoubleLine Opportunistic Credit Fund in the 2nd quarter valued at approximately $145,000. Evergreen Capital Management LLC boosted its position in DoubleLine Opportunistic Credit Fund by 26.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 427,304 shares of the investment management company’s stock valued at $6,563,000 after buying an additional 89,314 shares during the period. Truist Financial Corp boosted its position in DoubleLine Opportunistic Credit Fund by 5.9% in the 2nd 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 period. Finally, Ignite Planners LLC boosted its position in DoubleLine Opportunistic Credit Fund by 1.5% in the 3rd quarter. Ignite Planners LLC now owns 82,002 shares of the investment management company’s stock valued at $1,297,000 after buying an additional 1,249 shares during the period.

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.