Ares Dynamic Credit Allocation Fund, Inc. (ARDC) To Go Ex-Dividend on March 20th

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, March 10th. Investors of record on Friday, March 20th will be given a dividend of 0.1125 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Friday, March 20th.

Ares Dynamic Credit Allocation Fund Trading Down 0.9%

ARDC opened at $12.28 on Thursday. Ares Dynamic Credit Allocation Fund has a twelve month low of $11.52 and a twelve month high of $15.03. The company’s 50-day moving average price is $13.18 and its two-hundred day moving average price is $13.62.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several large investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in shares of Ares Dynamic Credit Allocation Fund by 35.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 319,133 shares of the company’s stock valued at $4,490,000 after purchasing an additional 84,013 shares during the period. United Advisor Group LLC raised its stake in Ares Dynamic Credit Allocation Fund by 1.6% in the second quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock valued at $4,782,000 after purchasing an additional 5,435 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Ares Dynamic Credit Allocation Fund by 12.4% during the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after purchasing an additional 46,322 shares during the last quarter. NewEdge Wealth LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 63.2% in the 3rd quarter. NewEdge Wealth LLC now owns 216,714 shares of the company’s stock worth $3,019,000 after buying an additional 83,889 shares during the last quarter. Finally, Camelot Portfolios LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $112,000.

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.