Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Rating)'s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.34 and traded as low as $12.84. Ares Dynamic Credit Allocation Fund shares last traded at $13.08, with a volume of 33,283 shares changing hands.
Ares Dynamic Credit Allocation Fund Stock Up 2.5 %
The business has a 50 day simple moving average of $12.77 and a 200-day simple moving average of $13.34.
Get Ares Dynamic Credit Allocation Fund alerts:Ares Dynamic Credit Allocation Fund Increases Dividend
The business also recently announced a monthly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 22nd were issued a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 9.40%. The ex-dividend date was Friday, August 19th. This is a positive change from Ares Dynamic Credit Allocation Fund's previous monthly dividend of $0.10.
Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund
A number of institutional investors have recently bought and sold shares of the business. Guggenheim Capital LLC grew its position in Ares Dynamic Credit Allocation Fund by 9.1% during the fourth quarter. Guggenheim Capital LLC now owns 1,391,060 shares of the company's stock worth $22,716,000 after buying an additional 116,453 shares in the last quarter. Roosevelt Investment Group LLC acquired a new stake in Ares Dynamic Credit Allocation Fund during the 1st quarter worth about $441,000. Bank of America Corp DE grew its stake in shares of Ares Dynamic Credit Allocation Fund by 1.4% in the 4th quarter. Bank of America Corp DE now owns 124,837 shares of the company's stock valued at $2,038,000 after buying an additional 1,709 shares during the period. Advisor Resource Council acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at about $504,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 8.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 236,422 shares of the company's stock valued at $3,414,000 after buying an additional 17,495 shares during the period.Ares Dynamic Credit Allocation Fund Company Profile
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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.
Further Reading
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