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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.98 and traded as low as $12.65. Ares Dynamic Credit Allocation Fund shares last traded at $12.7470, with a volume of 164,877 shares traded.

Ares Dynamic Credit Allocation Fund Price Performance

The stock has a 50-day simple moving average of $12.43 and a 200 day simple moving average of $12.98.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 10.6%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Trading of Ares Dynamic Credit Allocation Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Ares Dynamic Credit Allocation Fund by 6,060.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock valued at $27,000 after purchasing an additional 2,000 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 60.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after buying an additional 957 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter worth approximately $112,000. Founders Financial Alliance LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $140,000. Finally, Anfield Capital Management LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 54.8% in the fourth quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock valued at $168,000 after acquiring an additional 4,462 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.