Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Shares Pass Above 200-Day Moving Average of $14.68

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.68 and traded as high as $15.28. Ares Dynamic Credit Allocation Fund shares last traded at $15.28, with a volume of 80,892 shares traded.

Ares Dynamic Credit Allocation Fund Stock Performance

The stock has a 50 day simple moving average of $15.17 and a two-hundred day simple moving average of $14.68.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date of this dividend is Friday, September 20th.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its holdings in Ares Dynamic Credit Allocation Fund by 21.6% during the 4th quarter. Wells Fargo & Company MN now owns 891,976 shares of the company’s stock worth $12,265,000 after purchasing an additional 158,262 shares during the period. 9258 Wealth Management LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter worth about $176,000. Advisors Asset Management Inc. boosted its position in shares of Ares Dynamic Credit Allocation Fund by 9.2% during the 1st quarter. Advisors Asset Management Inc. now owns 293,009 shares of the company’s stock worth $4,170,000 after acquiring an additional 24,761 shares in the last quarter. Curated Wealth Partners LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 200.8% during the 2nd quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock worth $1,285,000 after acquiring an additional 171,963 shares in the last quarter. Finally, Tyche Wealth Partners LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth about $344,000.

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.