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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.07 and traded as low as $13.27. Ares Dynamic Credit Allocation Fund shares last traded at $13.2850, with a volume of 148,845 shares traded.

Ares Dynamic Credit Allocation Fund Price Performance

The firm’s 50-day moving average is $13.55 and its 200-day moving average is $14.07.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date is Monday, December 22nd.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several large investors have recently added to or reduced their stakes in ARDC. CoreCap Advisors LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 33.6% during the 3rd quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock valued at $64,000 after purchasing an additional 1,136 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth approximately $100,000. Axim Planning & Wealth bought a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter valued at approximately $167,000. QTR Family Wealth LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the third quarter valued at approximately $204,000. Finally, Cedar Wealth Management LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 3.8% during the third quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock valued at $294,000 after buying an additional 761 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.