Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Shares Cross Above Two Hundred Day Moving Average of $14.68

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.68 and traded as high as $15.28. Ares Dynamic Credit Allocation Fund shares last traded at $15.28, with a volume of 80,892 shares.

Ares Dynamic Credit Allocation Fund Stock Up 1.2 %

The business has a fifty day moving average price of $15.17 and a 200-day moving average price of $14.69.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.1175 dividend. This represents a $1.41 annualized dividend and a yield of 9.23%. The ex-dividend date of this dividend is Friday, September 20th.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. purchased a new stake in Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $150,000. 9258 Wealth Management LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter valued at approximately $176,000. Tyche Wealth Partners LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $344,000. Sanctuary Advisors LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth approximately $357,000. Finally, Curated Wealth Partners LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 200.8% in the second quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock worth $1,285,000 after buying an additional 171,963 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.