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

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Free Report) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $12.42 and traded as low as $11.36. Ares Dynamic Credit Allocation Fund shares last traded at $11.42, with a volume of 117,830 shares changing hands.

Ares Dynamic Credit Allocation Fund Price Performance

The business has a 50-day moving average price of $12.23 and a 200 day moving average price of $12.41.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be paid a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date of this dividend is Monday, September 21st.

Insider Buying and Selling at Ares Dynamic Credit Allocation Fund

In related news, major shareholder Financial For Luthera Thrivent purchased 240,000 shares of Ares Dynamic Credit Allocation Fund stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $6,000,000.00. Following the completion of the acquisition, the insider directly owned 240,000 shares of the company’s stock, valued at $6,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Ares Dynamic Credit Allocation Fund by 60.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after buying an additional 957 shares during the last quarter. Waverly Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 32.4% during the first quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock valued at $207,000 after acquiring an additional 4,178 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $140,000. NewEdge Wealth LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 5.4% during the first quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock valued at $3,128,000 after acquiring an additional 13,260 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in Ares Dynamic Credit Allocation Fund by 3.7% in the 1st quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock worth $6,116,000 after acquiring an additional 17,969 shares during the last quarter.

About Ares Dynamic Credit Allocation Fund

(Get Free Report)

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end investment company that seeks to provide investors with current income and capital appreciation. The fund is externally managed by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.

The fund invests primarily in credit-related assets, including senior secured loans, high-yield corporate bonds, structured credit instruments and other fixed-income securities. Its portfolio may include both public and privately originated investments, with an emphasis on below-investment-grade and floating-rate credit.

Recommended Stories

Receive News & Ratings for Ares Dynamic Credit Allocation Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Dynamic Credit Allocation Fund and related companies with MarketBeat.com's FREE daily email newsletter.