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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.45 and traded as low as $12.10. Ares Dynamic Credit Allocation Fund shares last traded at $12.12, with a volume of 115,580 shares traded.

Ares Dynamic Credit Allocation Fund Price Performance

The business has a 50-day simple moving average of $12.95 and a 200 day simple moving average of $13.45.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 20th will be paid a $0.1125 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend is Friday, March 20th.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC raised its holdings in Ares Dynamic Credit Allocation Fund by 3.8% during the 3rd quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock worth $294,000 after purchasing an additional 761 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 60.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock valued at $34,000 after purchasing an additional 957 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 33.6% during the third quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock worth $64,000 after buying an additional 1,136 shares during the period. Polar Asset Management Partners Inc. increased its position in shares of Ares Dynamic Credit Allocation Fund by 2.6% during the third quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after buying an additional 1,361 shares during the period. Finally, Huntleigh Advisors Inc. raised its stake in Ares Dynamic Credit Allocation Fund by 0.9% during the fourth quarter. Huntleigh Advisors Inc. now owns 216,625 shares of the company’s stock worth $2,881,000 after buying an additional 1,833 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.