Ares Dynamic Credit Allocation Fund, Inc. (ARDC) to Issue Monthly Dividend of $0.11 on August 31st

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, August 11th. Stockholders of record on Friday, August 21st will be paid a dividend of 0.1125 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend is Friday, August 21st.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC stock opened at $12.38 on Wednesday. The business’s 50-day moving average price is $12.56 and its 200-day moving average price is $12.60. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.60 and a 12 month high of $15.03.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC increased its holdings in Ares Dynamic Credit Allocation Fund by 16.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock valued at $5,711,000 after purchasing an additional 59,102 shares during the period. Icon Advisers Inc. Co. acquired a new position in Ares Dynamic Credit Allocation Fund during the 1st quarter worth about $1,182,000. Wolverine Asset Management LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 720.3% in the 4th quarter. Wolverine Asset Management LLC now owns 101,914 shares of the company’s stock valued at $1,355,000 after buying an additional 89,490 shares during the last quarter. Sit Investment Associates Inc. bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at about $3,975,000. Finally, NewEdge Wealth LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 5.4% in the 1st quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock valued at $3,128,000 after buying an additional 13,260 shares during the last quarter.

About Ares Dynamic Credit Allocation Fund

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.