DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

DoubleLine Opportunistic Credit Fund (NYSE:DBL)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $15.39 and traded as high as $15.54. DoubleLine Opportunistic Credit Fund shares last traded at $15.48, with a volume of 60,233 shares traded.

DoubleLine Opportunistic Credit Fund Stock Performance

The company’s 50-day moving average is $15.39 and its 200-day moving average is $15.46.

DoubleLine Opportunistic Credit Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 17th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%.

Institutional Investors Weigh In On DoubleLine Opportunistic Credit Fund

A number of institutional investors have recently made changes to their positions in DBL. Ameritas Advisory Services LLC acquired a new stake in shares of DoubleLine Opportunistic Credit Fund during the second quarter valued at about $44,000. Principia Wealth Advisory LLC grew its holdings in shares of DoubleLine Opportunistic Credit Fund by 41.1% in the first quarter. Principia Wealth Advisory LLC now owns 3,981 shares of the investment management company’s stock valued at $62,000 after purchasing an additional 1,160 shares in the last quarter. Total Investment Management Inc. purchased a new position in DoubleLine Opportunistic Credit Fund in the second quarter worth approximately $65,000. Golden State Wealth Management LLC lifted its stake in DoubleLine Opportunistic Credit Fund by 101.9% in the first quarter. Golden State Wealth Management LLC now owns 8,037 shares of the investment management company’s stock worth $126,000 after acquiring an additional 4,056 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of DoubleLine Opportunistic Credit Fund during the 2nd quarter worth approximately $156,000.

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.