Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Share Price Passes Above 50-Day Moving Average – What’s Next?

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.68 and traded as high as $12.82. Ares Dynamic Credit Allocation Fund shares last traded at $12.68, with a volume of 117,450 shares traded.

Ares Dynamic Credit Allocation Fund Trading Down 0.6%

The company’s fifty day simple moving average is $12.68 and its two-hundred day simple moving average is $12.77.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 20th will be paid a dividend of $0.1125 per share. The ex-dividend date is Monday, July 20th. This represents a c) annualized dividend and a yield of 10.6%.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Ares Dynamic Credit Allocation Fund by 6,060.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock worth $27,000 after purchasing an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 valued at $34,000 after purchasing an additional 957 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter worth $112,000. Founders Financial Alliance LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter worth $140,000. Finally, Anfield Capital Management LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 54.8% in the 4th quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock worth $168,000 after buying an additional 4,462 shares during the last quarter.

About Ares Dynamic Credit Allocation Fund

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.