Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Passes Above Fifty Day Moving Average of $14.71

Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.71 and traded as high as $14.82. Ares Dynamic Credit Allocation Fund shares last traded at $14.82, with a volume of 383 shares changing hands.

The firm’s 50-day simple moving average is $14.71 and its 200 day simple moving average is $14.98.

The business also recently declared a dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were issued a $0.108 dividend. The ex-dividend date of this dividend was Thursday, November 21st.

In related news, insider Ares Capital Management Ii Llc sold 8,221 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.68, for a total transaction of $120,684.28.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its holdings in Ares Dynamic Credit Allocation Fund by 7.3% during the second quarter. Advisor Group Inc. now owns 77,359 shares of the company’s stock worth $1,170,000 after purchasing an additional 5,255 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 12.7% during the 3rd quarter. Capital Investment Advisors LLC now owns 161,926 shares of the company’s stock worth $2,413,000 after buying an additional 18,188 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Ares Dynamic Credit Allocation Fund by 8.7% during the 3rd quarter. First Trust Advisors LP now owns 323,759 shares of the company’s stock worth $4,824,000 after buying an additional 25,951 shares during the last quarter. Mackay Shields LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter worth about $286,000. Finally, Wells Fargo & Company MN boosted its position in shares of Ares Dynamic Credit Allocation Fund by 13.0% in the 2nd quarter. Wells Fargo & Company MN now owns 454,058 shares of the company’s stock worth $6,870,000 after buying an additional 52,175 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Company Profile (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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