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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.21 and traded as low as $15.20. Ares Dynamic Credit Allocation Fund shares last traded at $15.30, with a volume of 78,406 shares.

Ares Dynamic Credit Allocation Fund Price Performance

The company’s 50-day simple moving average is $15.21 and its 200-day simple moving average is $15.21.

Ares Dynamic Credit Allocation Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th will be given a dividend of $0.1125 per share. This represents a $1.35 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend is Monday, February 24th.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARDC. Farther Finance Advisors LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter worth approximately $1,838,000. United Advisor Group LLC grew its position in Ares Dynamic Credit Allocation Fund by 0.9% during the 3rd quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock worth $4,738,000 after purchasing an additional 2,665 shares in the last quarter. Advisors Asset Management Inc. grew its position in Ares Dynamic Credit Allocation Fund by 20.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock worth $6,087,000 after purchasing an additional 67,550 shares in the last quarter. Cornerstone Advisors LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter worth approximately $261,000. Finally, Worth Asset Management LLC grew its position in Ares Dynamic Credit Allocation Fund by 32.7% during the 4th quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock worth $226,000 after purchasing an additional 3,682 shares in the last quarter.

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.