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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.07 and traded as low as $13.27. Ares Dynamic Credit Allocation Fund shares last traded at $13.2850, with a volume of 148,845 shares changing hands.

Ares Dynamic Credit Allocation Fund Price Performance

The company has a 50-day moving average price of $13.55 and a two-hundred day moving average price of $14.07.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a c) annualized dividend and a yield of 10.2%.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several hedge funds have recently modified their holdings of ARDC. CoreCap Advisors LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 33.6% during the 3rd quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock valued at $64,000 after acquiring an additional 1,136 shares during the period. GoalVest Advisory LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter valued at about $100,000. Axim Planning & Wealth bought a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth about $167,000. QTR Family Wealth LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at about $204,000. Finally, Cedar Wealth Management LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 3.8% in the 3rd quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock valued at $294,000 after buying an additional 761 shares during the period.

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.