DoubleLine Opportunistic Credit Fund (NYSE:DBL) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Shares of DoubleLine Opportunistic Credit Fund (NYSE:DBL) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.61 and traded as low as $14.03. DoubleLine Opportunistic Credit Fund shares last traded at $14.0350, with a volume of 72,607 shares trading hands.

DoubleLine Opportunistic Credit Fund Stock Performance

The firm’s 50 day moving average price is $14.31 and its two-hundred day moving average price is $14.61.

DoubleLine Opportunistic Credit Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 9.4%.

Institutional Trading of DoubleLine Opportunistic Credit Fund

Several institutional investors and hedge funds have recently bought and sold shares of DBL. Fifth Third Bancorp acquired a new stake in shares of DoubleLine Opportunistic Credit Fund in the first quarter valued at approximately $55,000. Ascentis Independent Advisors bought a new position in shares of DoubleLine Opportunistic Credit Fund during the 1st quarter worth approximately $108,000. XTX Topco Ltd acquired a new position in shares of DoubleLine Opportunistic Credit Fund during the 2nd quarter worth approximately $156,000. Papamarkou Wellner Asset Management inc. acquired a new position in shares of DoubleLine Opportunistic Credit Fund during the 4th quarter worth approximately $160,000. Finally, Maridea Wealth Management LLC bought a new stake in DoubleLine Opportunistic Credit Fund in the 1st quarter valued at $177,000.

About DoubleLine Opportunistic Credit Fund

DoubleLine Opportunistic Credit Fund (NYSE: DBL) is a closed-end management investment company designed to seek high current income by investing across a broad spectrum of credit instruments. The fund pursues an opportunistic strategy, allocating capital to non-investment-grade debt obligations, leveraged loans, high-yield bonds, structured credit products and other credit-related securities. As part of its flexible mandate, the fund may employ derivatives and repurchase agreements to hedge risk, manage duration and enhance yield.