Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.21 and traded as low as $15.20. Ares Dynamic Credit Allocation Fund shares last traded at $15.30, with a volume of 78,406 shares trading hands.

Ares Dynamic Credit Allocation Fund Stock Down 0.2 %

The stock has a 50 day simple moving average of $15.21 and a two-hundred day simple moving average of $15.21.

Ares Dynamic Credit Allocation Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th will be issued a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date is Monday, February 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ARDC. CoreCap Advisors LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 25.0% in the fourth quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock valued at $57,000 after purchasing an additional 749 shares during the period. Waverly Advisors LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $188,000. Worth Asset Management LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 32.7% in the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock valued at $226,000 after purchasing an additional 3,682 shares during the period. Cetera Investment Advisers increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 21.7% in the fourth quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock valued at $253,000 after purchasing an additional 2,982 shares during the period. Finally, Cornerstone Advisors LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the third quarter valued at approximately $261,000.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.