DoubleLine Opportunistic Credit Fund (NYSE:DBL) Stock Passes Above Fifty Day Moving Average – What’s Next?

Shares of DoubleLine Opportunistic Credit Fund (NYSE:DBL) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.61 and traded as high as $15.68. DoubleLine Opportunistic Credit Fund shares last traded at $15.59, with a volume of 41,547 shares traded.

DoubleLine Opportunistic Credit Fund Stock Performance

The firm has a 50-day moving average price of $15.61 and a two-hundred day moving average price of $15.64.

DoubleLine Opportunistic Credit Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.32 dividend on an annualized basis and a yield of 8.47%.

Hedge Funds Weigh In On DoubleLine Opportunistic Credit Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. raised its stake in shares of DoubleLine Opportunistic Credit Fund by 6.9% during the fourth quarter. Sit Investment Associates Inc. now owns 2,941,083 shares of the investment management company’s stock valued at $45,587,000 after acquiring an additional 191,066 shares in the last quarter. International Assets Investment Management LLC raised its position in DoubleLine Opportunistic Credit Fund by 1,518.2% during the 3rd quarter. International Assets Investment Management LLC now owns 2,298,915 shares of the investment management company’s stock valued at $36,369,000 after purchasing an additional 2,156,851 shares in the last quarter. Evergreen Capital Management LLC raised its position in DoubleLine Opportunistic Credit Fund by 3.8% during the 4th quarter. Evergreen Capital Management LLC now owns 448,057 shares of the investment management company’s stock valued at $6,945,000 after purchasing an additional 16,299 shares in the last quarter. Twelve Points Wealth Management LLC lifted its holdings in shares of DoubleLine Opportunistic Credit Fund by 29.4% in the 4th quarter. Twelve Points Wealth Management LLC now owns 378,659 shares of the investment management company’s stock worth $5,869,000 after buying an additional 85,958 shares during the period. Finally, Intellectus Partners LLC grew its position in shares of DoubleLine Opportunistic Credit Fund by 6.7% during the 4th quarter. Intellectus Partners LLC now owns 251,698 shares of the investment management company’s stock worth $3,901,000 after buying an additional 15,727 shares in 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.