Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Shares Pass Below 200-Day Moving Average of $15.43

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCGet Rating)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.43 and traded as low as $14.08. Ares Dynamic Credit Allocation Fund shares last traded at $14.16, with a volume of 85,356 shares traded.

The stock’s 50 day moving average is $14.44 and its 200-day moving average is $15.43.

The company also recently declared a monthly dividend, which will be paid on Friday, April 29th. Investors of record on Thursday, April 21st will be paid a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date is Wednesday, April 20th.

In other Ares Dynamic Credit Allocation Fund news, Director Bruce H. Spector acquired 10,000 shares of the stock in a transaction dated Thursday, March 17th. The shares were purchased at an average price of $14.18 per share, for a total transaction of $141,800.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Joseph Shaw acquired 4,000 shares of the stock in a transaction dated Tuesday, January 25th. The stock was acquired at an average price of $15.34 per share, for a total transaction of $61,360.00. The disclosure for this purchase can be found here.

A number of institutional investors have recently added to or reduced their stakes in ARDC. Concourse Financial Group Securities Inc. purchased a new stake in Ares Dynamic Credit Allocation Fund in the 3rd quarter worth approximately $32,000. Advanced Research Investment Solutions LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at approximately $65,000. Janney Montgomery Scott LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at approximately $178,000. Jane Street Group LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at approximately $183,000. Finally, LPL Financial LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 16.4% during the 4th quarter. LPL Financial LLC now owns 18,417 shares of the company’s stock valued at $301,000 after buying an additional 2,600 shares in the last quarter.

About Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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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