Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Shares Cross Below 200 Day Moving Average – Time to Sell?

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.17 and traded as low as $14.08. Ares Dynamic Credit Allocation Fund shares last traded at $14.14, with a volume of 84,630 shares.

Ares Dynamic Credit Allocation Fund Stock Up 0.1 %

The stock’s fifty day moving average is $15.05 and its two-hundred day moving average is $15.15.

Ares Dynamic Credit Allocation Fund Dividend Announcement

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

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several institutional investors have recently added to or reduced their stakes in ARDC. Advisors Asset Management Inc. lifted its holdings in Ares Dynamic Credit Allocation Fund by 20.4% during the third quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock valued at $6,087,000 after purchasing an additional 67,550 shares during the last quarter. Cornerstone Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the third quarter valued at about $261,000. Worth Asset Management LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 32.7% during the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock valued at $226,000 after purchasing an additional 3,682 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 98.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock valued at $323,000 after purchasing an additional 10,589 shares during the last quarter. Finally, Secure Asset Management LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 46.6% during the fourth quarter. Secure Asset Management LLC now owns 187,935 shares of the company’s stock valued at $2,840,000 after purchasing an additional 59,702 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.