Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Passes Above 50 Day Moving Average of $14.71

Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC)’s stock price crossed 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.

The company has a 50-day simple moving average of $14.71 and a two-hundred day simple moving average of $14.98.

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

In other Ares Dynamic Credit Allocation Fund news, insider Ares Capital Management Ii Llc sold 8,221 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.68, for a total transaction of $120,684.28.

Several hedge funds have recently bought and sold shares of ARDC. FNY Investment Advisers LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 3rd quarter worth approximately $55,000. E&G Advisors LP increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 20.3% during the 3rd quarter. E&G Advisors LP now owns 14,800 shares of the company’s stock worth $221,000 after acquiring an additional 2,500 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 19.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 15,856 shares of the company’s stock worth $241,000 after acquiring an additional 2,595 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 41.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 17,800 shares of the company’s stock worth $269,000 after acquiring an additional 5,200 shares during the last quarter. Finally, Mackay Shields LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 3rd quarter worth approximately $286,000.

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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