The stock of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) is now priced at $12.26 and the shares are 0.04 points up or 0.33% higher compared to its previous closing price of $12.22. The stock had 105364 contracts set over the past session. ARDC shares’ daily volume is compared to its average trading volume at 100995 shares. However, it has a float of 0 million and although its performance was 0.82% over the week, it’s one to watch.
The shorts are running away from the Ares Dynamic Credit Allocation Fund, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the ARDC shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) raised by $0.1 over the week and gained $0.06 on its 20-day. The stock’s high in the recent session is higher when compared to its 52-week high of $15.91. The stock recorded its established 52-week high on 02/19/20.
Since 03/19/20, the stock has traded to a low of $8.1 at 51.33%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Ares Dynamic Credit Allocation Fund, Inc.’s two-week RSI is 62.01. This suggests that the stock is neutral at the moment and that ARDC shares’ price movement remains stable. The stochastic readings are equally revealing at 92.96% meaning the ARDC share price is currently in oversold territory.
The technical chart shows that the ARDC stock will likely settle at between $12.29 and $12.33 per share. However, if the stock dips below $12.19, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.13.
Currently, the stock is trading in the green of MACD, with a reading of 0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.