Ares Dynamic Credit Allocation Fund, Inc. (ARDC) To Go Ex-Dividend on September 21st

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Friday, September 11th. Investors of record on Monday, September 21st will be given a dividend of 0.1125 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Monday, September 21st.

Ares Dynamic Credit Allocation Fund Price Performance

Ares Dynamic Credit Allocation Fund stock traded down $0.07 during mid-day trading on Friday, reaching $12.02. 95,734 shares of the company were exchanged, compared to its average volume of 115,414. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.60 and a 12 month high of $14.89. The company has a fifty day simple moving average of $12.37 and a 200-day simple moving average of $12.45.

Insider Buying and Selling at Ares Dynamic Credit Allocation Fund

In related news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $6,000,000.00. Following the completion of the transaction, the insider directly owned 240,000 shares of the company’s stock, valued at approximately $6,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 60.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock valued at $34,000 after purchasing an additional 957 shares during the last quarter. Susquehanna International Group LLP bought a new position in Ares Dynamic Credit Allocation Fund during the second quarter worth $140,000. Waverly Advisors LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 32.4% in the first 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 during the period. World Investment Advisors acquired a new position in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at $251,000. Finally, Closed End Fund Advisors Inc. acquired a new position in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at $330,000.

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.