Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Breaks Below Two Hundred Day Moving Average – What’s Next?

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $12.37 and traded as low as $11.41. Ares Dynamic Credit Allocation Fund shares last traded at $11.43, with a volume of 76,202 shares traded.

Ares Dynamic Credit Allocation Fund Trading Down 0.9%

The company has a fifty day moving average of $12.04 and a two-hundred day moving average of $12.36.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 19th will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Monday, October 19th. This represents a $1.35 annualized dividend and a dividend yield of 12.0%.

Insiders Place Their Bets

In other news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average price of $25.00 per share, with a total value of $6,000,000.00. Following the completion of the purchase, the insider directly owned 240,000 shares of the company’s stock, valued at approximately $6,000,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 54.3% during the third quarter. CoreCap Advisors LLC now owns 5,529 shares of the company’s stock valued at $64,000 after acquiring an additional 1,945 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth about $140,000. Waverly Advisors LLC grew its stake in Ares Dynamic Credit Allocation Fund by 32.4% in the 1st quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock valued at $207,000 after buying an additional 4,178 shares in the last quarter. World Investment Advisors bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $251,000. Finally, Bank of America Corp DE bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter valued at about $1,016,000.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund is a diversified, closed-end management investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a broad range of credit-related assets.

Its portfolio may include senior secured loans, high-yield bonds, investment-grade debt, structured credit investments and other fixed-income securities. By allocating across different credit sectors, the fund is designed to pursue income opportunities while managing exposure to changing economic and market conditions.

Ares Dynamic Credit Allocation Fund is advised by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.