Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Shares Cross Below 200-Day Moving Average – Here’s Why

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.11 and traded as low as $13.48. Ares Dynamic Credit Allocation Fund shares last traded at $13.49, with a volume of 167,012 shares traded.

Ares Dynamic Credit Allocation Fund Stock Up 0.1%

The stock’s fifty day simple moving average is $14.22 and its 200-day simple moving average is $14.11.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 20th will be paid a $0.1125 dividend. The ex-dividend date is Monday, October 20th. This represents a c) annualized dividend and a dividend yield of 10.0%.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several large investors have recently made changes to their positions in the company. Foundations Investment Advisors LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 3.6% in the first quarter. Foundations Investment Advisors LLC now owns 408,667 shares of the company’s stock valued at $5,717,000 after purchasing an additional 14,142 shares during the period. United Advisor Group LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 1.6% in the second quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock valued at $4,782,000 after purchasing an additional 5,435 shares during the period. AdvisorNet Financial Inc increased its stake in shares of Ares Dynamic Credit Allocation Fund by 35.7% in the third quarter. AdvisorNet Financial Inc now owns 319,133 shares of the company’s stock valued at $4,490,000 after purchasing an additional 84,013 shares during the period. Invesco Ltd. increased its stake in shares of Ares Dynamic Credit Allocation Fund by 8.6% in the second quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock valued at $4,236,000 after purchasing an additional 23,540 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Ares Dynamic Credit Allocation Fund by 10.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 264,787 shares of the company’s stock valued at $3,726,000 after purchasing an additional 25,683 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.