DoubleLine Opportunistic Credit Fund (NYSE:DBL) Shares Pass Above 50-Day Moving Average – What’s Next?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.66 and traded as high as $15.69. DoubleLine Opportunistic Credit Fund shares last traded at $15.68, with a volume of 23,711 shares changing hands.

DoubleLine Opportunistic Credit Fund Trading Up 0.3 %

The stock has a fifty day moving average of $15.66 and a 200-day moving average of $15.63.

DoubleLine Opportunistic Credit Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 8.42%. The ex-dividend date of this dividend is Wednesday, March 19th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. grew its stake in DoubleLine Opportunistic Credit Fund by 6.9% during the 4th quarter. Sit Investment Associates Inc. now owns 2,941,083 shares of the investment management company’s stock worth $45,587,000 after buying an additional 191,066 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of DoubleLine Opportunistic Credit Fund during the fourth quarter valued at approximately $2,123,000. Twelve Points Wealth Management LLC raised its holdings in shares of DoubleLine Opportunistic Credit Fund by 29.4% during 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 acquiring an additional 85,958 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of DoubleLine Opportunistic Credit Fund by 56.9% in the fourth quarter. Guggenheim Capital LLC now owns 161,052 shares of the investment management company’s stock valued at $2,496,000 after purchasing an additional 58,404 shares during the last quarter. Finally, Intellectus Partners LLC increased 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.

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.