Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Share Price Crosses Below Fifty Day Moving Average of $15.13

Shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.13 and traded as low as $15.04. Ares Dynamic Credit Allocation Fund shares last traded at $15.04, with a volume of 206 shares trading hands.

The business’s 50-day moving average is $15.13.

The business also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.1075 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.29 dividend on an annualized basis and a yield of 8.57%.

Hedge funds have recently modified their holdings of the business. RMB Capital Management LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 224.0% during the fourth quarter. RMB Capital Management LLC now owns 248,350 shares of the company’s stock valued at $3,427,000 after buying an additional 171,710 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 4.7% during the first quarter. Parametric Portfolio Associates LLC now owns 985,663 shares of the company’s stock valued at $14,627,000 after buying an additional 43,943 shares during the last quarter. BlackRock Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 58.0% during the fourth quarter. BlackRock Inc. now owns 110,924 shares of the company’s stock valued at $1,531,000 after buying an additional 40,724 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 360.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 43,868 shares of the company’s stock valued at $651,000 after buying an additional 34,341 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 27.9% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 104,732 shares of the company’s stock valued at $1,554,000 after buying an additional 22,862 shares during 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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