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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.51 and traded as low as $12.26. Ares Dynamic Credit Allocation Fund shares last traded at $12.28, with a volume of 90,583 shares trading hands.

Ares Dynamic Credit Allocation Fund Stock Performance

The firm’s 50-day moving average price is $12.49 and its 200 day moving average price is $12.51.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were paid a $0.1125 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 11.0%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC grew its stake 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 worth $5,711,000 after purchasing an additional 59,102 shares during the period. Icon Advisers Inc. Co. acquired a new position in Ares Dynamic Credit Allocation Fund in the first quarter valued at about $1,182,000. Sit Investment Associates Inc. bought a new position in Ares Dynamic Credit Allocation Fund during the fourth quarter worth about $3,975,000. NewEdge Wealth LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth about $3,154,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at about $140,000.

About Ares Dynamic Credit Allocation Fund

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.