Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.07 and traded as low as $14.09. Ares Dynamic Credit Allocation Fund shares last traded at $14.15, with a volume of 50,954 shares changing hands.

Ares Dynamic Credit Allocation Fund Trading Down 0.1 %

The stock’s fifty day moving average price is $14.81 and its two-hundred day moving average price is $15.06.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be issued a $0.1125 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.35 dividend on an annualized basis and a dividend yield of 9.56%.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARDC. Janney Montgomery Scott LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after buying an additional 10,589 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in Ares Dynamic Credit Allocation Fund by 23.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 394,525 shares of the company’s stock worth $5,961,000 after purchasing an additional 74,226 shares in the last quarter. NewEdge Wealth LLC raised its position in Ares Dynamic Credit Allocation Fund by 19.5% in the fourth quarter. NewEdge Wealth LLC now owns 106,308 shares of the company’s stock valued at $1,606,000 after purchasing an additional 17,350 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 2.9% during the fourth quarter. Advisors Asset Management Inc. now owns 409,946 shares of the company’s stock valued at $6,194,000 after purchasing an additional 11,567 shares in the last quarter. Finally, Worth Asset Management LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 32.7% during the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock worth $226,000 after purchasing an additional 3,682 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Company Profile

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.