Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $13.43 and traded as high as $13.57. Ares Dynamic Credit Allocation Fund shares last traded at $13.45, with a volume of 86,848 shares traded.

Ares Dynamic Credit Allocation Fund Stock Performance

The company’s 50-day simple moving average is $13.43 and its 200 day simple moving average is $13.93.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 20th will be issued a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a yield of 10.0%. The ex-dividend date is Tuesday, January 20th.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Large investors have recently made changes to their positions in the business. Shaker Financial Services LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth about $3,252,000. AdvisorNet Financial Inc raised its position in Ares Dynamic Credit Allocation Fund by 52.0% in the fourth quarter. AdvisorNet Financial Inc now owns 485,021 shares of the company’s stock worth $6,451,000 after acquiring an additional 165,888 shares during the period. NewEdge Wealth LLC raised its position in Ares Dynamic Credit Allocation Fund by 63.2% in the third quarter. NewEdge Wealth LLC now owns 216,714 shares of the company’s stock worth $3,019,000 after acquiring an additional 83,889 shares during the period. Virtu Financial LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the third quarter valued at about $786,000. Finally, Wolverine Asset Management LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 247.3% during the 2nd quarter. Wolverine Asset Management LLC now owns 67,150 shares of the company’s stock valued at $955,000 after acquiring an additional 47,813 shares during the period.

About Ares Dynamic Credit Allocation Fund

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.