Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Rating) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.51 and traded as low as $13.16. Ares Dynamic Credit Allocation Fund shares last traded at $13.16, with a volume of 63,662 shares.
Ares Dynamic Credit Allocation Fund Stock Performance
The stock has a 50 day moving average price of $12.62 and a 200 day moving average price of $13.51.
Get Ares Dynamic Credit Allocation Fund alerts:Ares Dynamic Credit Allocation Fund Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Monday, August 22nd will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date is Friday, August 19th. This is a positive change from Ares Dynamic Credit Allocation Fund's previous monthly dividend of $0.10.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth about $251,000. Bluefin Capital Management LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 20.3% during the second quarter. Bluefin Capital Management LLC now owns 17,763 shares of the company's stock worth $217,000 after purchasing an additional 2,994 shares in the last quarter. NewEdge Advisors LLC lifted its position in Ares Dynamic Credit Allocation Fund by 11.0% in the 2nd quarter. NewEdge Advisors LLC now owns 26,159 shares of the company's stock worth $319,000 after buying an additional 2,600 shares during the last quarter. Wells Fargo & Company MN lifted its position in Ares Dynamic Credit Allocation Fund by 2.2% in the 2nd quarter. Wells Fargo & Company MN now owns 643,572 shares of the company's stock worth $7,851,000 after buying an additional 13,806 shares during the last quarter. Finally, LPL Financial LLC lifted its position in Ares Dynamic Credit Allocation Fund by 6.4% in the 2nd quarter. LPL Financial LLC now owns 20,755 shares of the company's stock worth $253,000 after buying an additional 1,256 shares during the last quarter.About Ares Dynamic Credit Allocation Fund
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Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.
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