Guggenheim Credit Allocation Fund (NYSE:GGM) Trading Down 0.5%

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Shares of Guggenheim Credit Allocation Fund (NYSE:GGM) traded down 0.5% during mid-day trading on Tuesday . The company traded as low as $20.00 and last traded at $20.05, 24,099 shares traded hands during mid-day trading. A decline of 20% from the average session volume of 30,084 shares. The stock had previously closed at $20.15.

The business’s fifty day moving average price is $20.21 and its 200 day moving average price is $20.38.

The firm also recently announced a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.181 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $2.17 annualized dividend and a dividend yield of 10.81%.

Several hedge funds have recently added to or reduced their stakes in GGM. Centaurus Financial Inc. lifted its position in shares of Guggenheim Credit Allocation Fund by 4,850.5% during the 2nd quarter. Centaurus Financial Inc. now owns 5,000 shares of the company’s stock worth $104,000 after buying an additional 4,899 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Guggenheim Credit Allocation Fund by 39.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 19,223 shares of the company’s stock valued at $401,000 after purchasing an additional 5,395 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Guggenheim Credit Allocation Fund by 11.5% in the 2nd quarter. HighTower Advisors LLC now owns 27,742 shares of the company’s stock worth $577,000 after purchasing an additional 2,852 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV grew its holdings in shares of Guggenheim Credit Allocation Fund by 13.6% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 34,355 shares of the company’s stock worth $716,000 after purchasing an additional 4,100 shares during the last quarter.

About Guggenheim Credit Allocation Fund (NYSE:GGM)

Guggenheim Credit Allocation Fund is a closed ended fixed income mutual fund launched and managed by Guggenheim Partners Investment Management, LLC. It invests in fixed income markets of the United States. The fund invests in credit securities that include debt securities and loans and investments with economic characteristics similar to fixed-income securities, debt securities and loans.

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