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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.13 and traded as low as $13.97. Ares Dynamic Credit Allocation Fund shares last traded at $14.06, with a volume of 130,016 shares changing hands.

Ares Dynamic Credit Allocation Fund Price Performance

The business’s 50-day moving average price is $14.51 and its 200-day moving average price is $14.13.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.1125 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several hedge funds have recently modified their holdings of the stock. Elequin Capital LP boosted its stake in Ares Dynamic Credit Allocation Fund by 1,130.5% in the 1st quarter. Elequin Capital LP now owns 3,384 shares of the company’s stock worth $48,000 after purchasing an additional 3,109 shares in the last quarter. GoalVest Advisory LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth $100,000. Anfield Capital Management LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 35.8% in the first quarter. Anfield Capital Management LLC now owns 7,772 shares of the company’s stock worth $110,000 after buying an additional 2,047 shares during the last quarter. Axim Planning & Wealth acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth $167,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter valued at $273,000.

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.