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)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.93 and traded as low as $12.40. Ares Dynamic Credit Allocation Fund shares last traded at $12.4750, with a volume of 148,758 shares traded.

Ares Dynamic Credit Allocation Fund Price Performance

The business’s fifty day simple moving average is $12.50 and its 200-day simple moving average is $12.93.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.1125 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of large investors have recently modified their holdings of the stock. Invesco Ltd. lifted its position in Ares Dynamic Credit Allocation Fund by 8.6% during the 2nd quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock valued at $4,236,000 after acquiring an additional 23,540 shares during the period. Osaic Holdings Inc. raised its holdings in Ares Dynamic Credit Allocation Fund by 18.2% in the second quarter. Osaic Holdings Inc. now owns 61,122 shares of the company’s stock worth $869,000 after buying an additional 9,394 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Ares Dynamic Credit Allocation Fund in the third quarter worth about $401,000. Advisors Asset Management Inc. raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 12.4% during the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after purchasing an additional 46,322 shares during the last quarter. Finally, NewEdge Wealth LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 63.2% during the third quarter. NewEdge Wealth LLC now owns 216,714 shares of the company’s stock valued at $3,019,000 after purchasing an additional 83,889 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.