Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s share 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 Performance

The company has a 50 day moving average of $15.09 and a 200 day moving average of $15.17.

Ares Dynamic Credit Allocation Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were paid a dividend of $0.1125 per share. This represents a $1.35 annualized dividend and a yield of 9.55%. The ex-dividend date was Monday, February 24th.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several hedge funds have recently added to or reduced their stakes in ARDC. Janney Montgomery Scott LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 98.2% in the 4th 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 period. Foundations Investment Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 23.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 394,525 shares of the company’s stock valued at $5,961,000 after purchasing an additional 74,226 shares during the period. NewEdge Wealth LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 19.5% in the 4th quarter. NewEdge Wealth LLC now owns 106,308 shares of the company’s stock valued at $1,606,000 after purchasing an additional 17,350 shares during the period. Cornerstone Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at about $261,000. Finally, Worth Asset Management LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 32.7% in the 4th 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 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.