Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Shares Cross Below 200 Day Moving Average – Time to Sell?

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.17 and traded as low as $14.08. Ares Dynamic Credit Allocation Fund shares last traded at $14.14, with a volume of 84,630 shares trading hands.

Ares Dynamic Credit Allocation Fund Price Performance

The business’s 50-day moving average price is $15.05 and its 200 day moving average price is $15.15.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 9.54%. The ex-dividend date of this dividend is Friday, March 21st.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC raised its stake in 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 in the last quarter. Waverly Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $188,000. Worth Asset Management LLC raised its stake in 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 in the last quarter. Cetera Investment Advisers raised its stake in 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 in the last quarter. Finally, Cornerstone Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the third quarter valued at approximately $261,000.

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.