Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Shares Pass Below 200 Day Moving Average – What’s Next?

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s stock price 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 Stock Performance

The company’s 50-day moving average price is $14.84 and its 200 day moving average price is $15.07.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a dividend of $0.1125 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.35 annualized dividend and a yield of 9.54%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. United Advisor Group LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 3.7% during the 4th quarter. United Advisor Group LLC now owns 321,483 shares of the company’s stock valued at $4,858,000 after purchasing an additional 11,384 shares during the last quarter. Waverly Advisors LLC bought a new position in Ares Dynamic Credit Allocation Fund during the fourth quarter valued at $188,000. CoreCap Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 25.0% in the fourth quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock valued at $57,000 after acquiring an additional 749 shares during the period. Cetera Investment Advisers raised its stake in shares of Ares Dynamic Credit Allocation Fund by 21.7% in the fourth quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock valued at $253,000 after acquiring an additional 2,982 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 15.9% in the 4th quarter. Bank of America Corp DE now owns 235,732 shares of the company’s stock worth $3,562,000 after acquiring an additional 32,356 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.