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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Tuesday, November 10th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.1125 per share on Monday, November 30th. This represents a $1.35 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend is Friday, November 20th.

Ares Dynamic Credit Allocation Fund Stock Up 0.3%

Shares of ARDC stock traded up $0.04 during trading hours on Wednesday, hitting $11.60. 14,694 shares of the company were exchanged, compared to its average volume of 121,817. Ares Dynamic Credit Allocation Fund has a 52 week low of $11.10 and a 52 week high of $13.99. The business has a 50 day moving average of $11.67 and a two-hundred day moving average of $12.37.

Insider Transactions at Ares Dynamic Credit Allocation Fund

In other news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of the stock in a transaction on Monday, September 14th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $6,000,000.00. Following the acquisition, the insider owned 240,000 shares in the company, valued at approximately $6,000,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Large investors have recently bought and sold shares of the company. AdvisorNet Financial Inc grew its position in Ares Dynamic Credit Allocation Fund by 7.0% in the third quarter. AdvisorNet Financial Inc now owns 643,447 shares of the company’s stock valued at $7,252,000 after purchasing an additional 42,161 shares in the last quarter. NewEdge Wealth LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 5.4% during the 1st quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock worth $3,128,000 after buying an additional 13,260 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 26.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 199,121 shares of the company’s stock worth $2,290,000 after buying an additional 41,869 shares during the last quarter. Shaker Financial Services LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 89.4% in the 3rd quarter. Shaker Financial Services LLC now owns 196,145 shares of the company’s stock valued at $2,256,000 after acquiring an additional 92,604 shares in the last quarter. Finally, Icon Advisers Inc. Co. bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 1st quarter valued at about $1,182,000.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a diversified portfolio of credit-related assets. Its investments may include broadly syndicated loans, high-yield bonds, investment-grade corporate debt, structured credit, collateralized loan obligation securities and other fixed-income instruments.