Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.03 and traded as low as $12.62. Ares Dynamic Credit Allocation Fund shares last traded at $12.6750, with a volume of 100,075 shares.

Ares Dynamic Credit Allocation Fund Stock Down 0.0%

The stock’s 50 day moving average is $12.38 and its 200 day moving average is $13.03.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 10.7%.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at about $3,975,000. Shaker Financial Services LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $3,252,000. AdvisorNet Financial Inc grew its stake in Ares Dynamic Credit Allocation Fund by 52.0% in the 4th quarter. AdvisorNet Financial Inc now owns 485,021 shares of the company’s stock valued at $6,451,000 after buying an additional 165,888 shares during the last quarter. Readystate Asset Management LP increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 353.3% during the 4th quarter. Readystate Asset Management LP now owns 169,592 shares of the company’s stock worth $2,256,000 after purchasing an additional 132,178 shares during the period. Finally, Icon Advisers Inc. Co. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter valued at about $1,182,000.

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.