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) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.93 and traded as low as $12.40. Ares Dynamic Credit Allocation Fund shares last traded at $12.4750, with a volume of 148,758 shares changing hands.

Ares Dynamic Credit Allocation Fund Trading Down 0.1%

The firm’s 50-day moving average is $12.50 and its 200-day moving average is $12.93.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 21st were given a $0.1125 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date was Thursday, May 21st.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Hedge funds have recently modified their holdings of the company. AdvisorNet Financial Inc boosted its position in shares of 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 purchasing an additional 165,888 shares during the period. Wolverine Asset Management LLC raised its stake in Ares Dynamic Credit Allocation Fund by 720.3% during the fourth quarter. Wolverine Asset Management LLC now owns 101,914 shares of the company’s stock valued at $1,355,000 after purchasing an additional 89,490 shares in the last quarter. Shaker Financial Services LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the fourth quarter valued at $3,252,000. Advisors Asset Management Inc. raised its stake in Ares Dynamic Credit Allocation Fund by 12.4% during the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after purchasing an additional 46,322 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised 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 valued at $5,711,000 after acquiring an additional 59,102 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.