Ares Management ( (ARES) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Ares Management shares are climbing as investors return to the private credit sector and traders rush to cover short positions after heavy recent selling. The move follows a sharp rebound from 52-week lows, suggesting the stock had become oversold.
The rally is also getting support from fundamentals, including a $1.35 per share quarterly dividend set for holders of record on March 17, and fresh strategic progress. Ares recently closed an $850 million continuation vehicle for Convergint, bolstering confidence in its $620 billion asset management platform as earlier liquidity worries fade.
More about Ares Management
YTD Price Performance: -37.81%
Average Trading Volume: 3,476,309
Technical Sentiment Signal: Sell
Current Market Cap: $33.12B
For further insights into ARES stock on TipRanks’ Stock Analysis page.
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