Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.47 and traded as low as $12.06. Ares Dynamic Credit Allocation Fund shares last traded at $12.0940, with a volume of 69,295 shares traded.

Ares Dynamic Credit Allocation Fund Trading Down 0.2%

The firm has a 50-day moving average of $12.42 and a 200 day moving average of $12.46.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be given a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a yield of 11.2%. The ex-dividend date is Monday, September 21st.

Insider Buying and Selling

In other Ares Dynamic Credit Allocation Fund news, major shareholder Financial For Luthera Thrivent acquired 240,000 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was purchased at an average price of $25.00 per share, with a total value of $6,000,000.00. Following the transaction, the insider directly owned 240,000 shares in the company, valued at approximately $6,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC lifted its holdings in 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 purchasing an additional 59,102 shares in the last quarter. Icon Advisers Inc. Co. bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter valued at $1,182,000. Sit Investment Associates Inc. purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $3,975,000. NewEdge Wealth LLC bought a new stake in Ares Dynamic Credit Allocation Fund during the second quarter valued at about $3,154,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter valued at about $140,000.

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.