Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.45 and traded as low as $12.10. Ares Dynamic Credit Allocation Fund shares last traded at $12.12, with a volume of 115,580 shares trading hands.

Ares Dynamic Credit Allocation Fund Stock Performance

The stock has a 50 day moving average price of $12.95 and a 200 day moving average price of $13.45.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 20th will be issued a $0.1125 dividend. This represents a c) dividend on an annualized basis and a yield of 11.1%. The ex-dividend date is Friday, March 20th.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc increased its position 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 acquiring an additional 165,888 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 20.3% during the fourth quarter. Guggenheim Capital LLC now owns 446,464 shares of the company’s stock worth $5,938,000 after purchasing an additional 75,346 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 16.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock worth $5,711,000 after purchasing an additional 59,102 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 12.4% in the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock worth $5,920,000 after purchasing an additional 46,322 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Ares Dynamic Credit Allocation Fund by 4.3% in the fourth quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock valued at $4,523,000 after purchasing an additional 13,867 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.