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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.66 and traded as low as $12.66. Ares Dynamic Credit Allocation Fund shares last traded at $12.78, with a volume of 70,403 shares.

Ares Dynamic Credit Allocation Fund Stock Down 0.5%

The firm’s 50 day simple moving average is $12.66 and its 200 day simple moving average is $12.79.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.1125 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend was Monday, June 22nd.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARDC. AdvisorNet Financial Inc boosted its holdings 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 buying an additional 165,888 shares during the period. Foundations Investment Advisors LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 16.0% during 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. Wolverine Asset Management LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 720.3% in the 4th quarter. Wolverine Asset Management LLC now owns 101,914 shares of the company’s stock valued at $1,355,000 after acquiring an additional 89,490 shares in the last quarter. Sit Investment Associates Inc. acquired a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $3,975,000. Finally, Shaker Financial Services LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 4th quarter worth approximately $3,252,000.

Ares Dynamic Credit Allocation Fund Company Profile

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.