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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.07 and traded as low as $14.09. Ares Dynamic Credit Allocation Fund shares last traded at $14.15, with a volume of 50,954 shares trading hands.

Ares Dynamic Credit Allocation Fund Price Performance

The stock has a 50 day simple moving average of $14.81 and a two-hundred day simple moving average of $15.06.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be issued a dividend of $0.1125 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.35 dividend on an annualized basis and a yield of 9.56%.

Institutional Trading of Ares Dynamic Credit Allocation Fund

A number of large investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 25.0% during the 4th quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock worth $57,000 after purchasing an additional 749 shares during the last quarter. Cetera Investment Advisers increased its position in Ares Dynamic Credit Allocation Fund by 21.7% during the fourth quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock worth $253,000 after buying an additional 2,982 shares during the last quarter. Guggenheim Capital LLC raised its stake in Ares Dynamic Credit Allocation Fund by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 514,583 shares of the company’s stock valued at $7,775,000 after buying an additional 3,305 shares during the period. Worth Asset Management LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 32.7% in the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock valued at $226,000 after buying an additional 3,682 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 19.1% during the 4th quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock worth $354,000 after acquiring an additional 3,758 shares during the period.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.