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) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Ares Dynamic Credit Allocation Fund Trading Up 0.0 %

The stock has a fifty day moving average price of $15.21 and a two-hundred day moving average price of $15.21.

Ares Dynamic Credit Allocation Fund Cuts Dividend

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

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARDC. CoreCap Advisors LLC raised its holdings in Ares Dynamic Credit Allocation Fund by 25.0% during the fourth quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock worth $57,000 after purchasing an additional 749 shares in the last quarter. Waverly Advisors LLC bought a new stake in Ares Dynamic Credit Allocation Fund during the fourth quarter worth approximately $188,000. Worth Asset Management LLC grew its position in Ares Dynamic Credit Allocation Fund by 32.7% in the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock worth $226,000 after buying an additional 3,682 shares during the last quarter. Cetera Investment Advisers grew its position in Ares Dynamic Credit Allocation Fund by 21.7% in the fourth quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock worth $253,000 after buying an additional 2,982 shares during the last quarter. Finally, Cornerstone Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the third quarter worth approximately $261,000.

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.