Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.60 and traded as low as $13.89. Ares Dynamic Credit Allocation Fund shares last traded at $14.03, with a volume of 83,218 shares trading hands.

Ares Dynamic Credit Allocation Fund Stock Up 0.5%

The company’s 50 day simple moving average is $13.67 and its two-hundred day simple moving average is $14.60.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a $0.1125 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.35 annualized dividend and a yield of 9.63%.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in Ares Dynamic Credit Allocation Fund by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,664,519 shares of the company’s stock valued at $25,151,000 after acquiring an additional 91,365 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 0.6% during the fourth quarter. Guggenheim Capital LLC now owns 514,583 shares of the company’s stock worth $7,775,000 after buying an additional 3,305 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 2.9% during the fourth quarter. Advisors Asset Management Inc. now owns 409,946 shares of the company’s stock worth $6,194,000 after buying an additional 11,567 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 3.6% during the first quarter. Foundations Investment Advisors LLC now owns 408,667 shares of the company’s stock worth $5,717,000 after buying an additional 14,142 shares during the period. Finally, United Advisor Group LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 2.9% during the first quarter. United Advisor Group LLC now owns 330,844 shares of the company’s stock worth $4,672,000 after buying an additional 9,361 shares during the period.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.