Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.21 and traded as low as $15.20. Ares Dynamic Credit Allocation Fund shares last traded at $15.30, with a volume of 78,406 shares traded.

Ares Dynamic Credit Allocation Fund Stock Performance

The firm has a 50 day moving average of $15.21 and a two-hundred day moving average of $15.21.

Ares Dynamic Credit Allocation Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Monday, February 24th will be paid a dividend of $0.1125 per share. This represents a $1.35 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend is Monday, February 24th.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its stake in Ares Dynamic Credit Allocation Fund by 98.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after purchasing an additional 10,589 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in Ares Dynamic Credit Allocation Fund by 23.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 394,525 shares of the company’s stock worth $5,961,000 after purchasing an additional 74,226 shares during the last quarter. Cornerstone Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the third quarter worth approximately $261,000. Worth Asset Management LLC lifted its stake in Ares Dynamic Credit Allocation Fund by 32.7% during the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock worth $226,000 after purchasing an additional 3,682 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Ares Dynamic Credit Allocation Fund by 20.4% in the third quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock valued at $6,087,000 after buying an additional 67,550 shares during the last quarter.

About Ares Dynamic Credit Allocation Fund

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.