DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.55 and traded as low as $15.15. DoubleLine Opportunistic Credit Fund shares last traded at $15.31, with a volume of 32,615 shares trading hands.

DoubleLine Opportunistic Credit Fund Stock Performance

The firm’s 50 day simple moving average is $15.57 and its 200 day simple moving average is $15.55.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 8.62%. The ex-dividend date is Wednesday, April 16th.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

A number of hedge funds and other institutional investors have recently modified their holdings of DBL. Janney Montgomery Scott LLC lifted its position in DoubleLine Opportunistic Credit Fund by 35.0% in the first quarter. Janney Montgomery Scott LLC now owns 263,788 shares of the investment management company’s stock valued at $4,123,000 after purchasing an additional 68,379 shares during the last quarter. Principia Wealth Advisory LLC raised its holdings in DoubleLine Opportunistic Credit Fund by 41.1% during the 1st quarter. Principia Wealth Advisory LLC now owns 3,981 shares of the investment management company’s stock valued at $62,000 after buying an additional 1,160 shares during the last quarter. Intellectus Partners LLC boosted its position in DoubleLine Opportunistic Credit Fund by 2.1% during the 1st quarter. Intellectus Partners LLC now owns 256,974 shares of the investment management company’s stock valued at $4,016,000 after buying an additional 5,276 shares during the period. Matrix Trust Co grew its holdings in DoubleLine Opportunistic Credit Fund by 35.9% in the 1st quarter. Matrix Trust Co now owns 47,092 shares of the investment management company’s stock worth $736,000 after acquiring an additional 12,436 shares during the last quarter. Finally, EWG Elevate Inc. purchased a new position in shares of DoubleLine Opportunistic Credit Fund in the first quarter valued at about $161,000.

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.