Ares Dynamic Credit Allocation Fund, Inc. to Issue Monthly Dividend of $0.11 (NYSE:ARDC)

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Friday, July 10th. Shareholders of record on Monday, July 20th will be given a dividend of 0.1125 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Monday, July 20th.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC opened at $12.49 on Friday. Ares Dynamic Credit Allocation Fund has a 52-week low of $11.60 and a 52-week high of $15.03. The business’s 50 day moving average price is $12.67 and its two-hundred day moving average price is $12.76.

Institutional Trading of Ares Dynamic Credit Allocation Fund

A number of large investors have recently added to or reduced their stakes in ARDC. Waverly Advisors LLC grew its stake in Ares Dynamic Credit Allocation Fund by 32.4% in the 1st quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock valued at $207,000 after buying an additional 4,178 shares in the last quarter. Icon Advisers Inc. Co. purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the first quarter valued at $1,182,000. NewEdge Wealth LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 5.4% in the first quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock valued at $3,128,000 after purchasing an additional 13,260 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Ares Dynamic Credit Allocation Fund by 3.7% during the 1st quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock valued at $6,116,000 after purchasing an additional 17,969 shares during the period. Finally, World Investment Advisors bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $251,000.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.