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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Monday, May 11th. Stockholders of record on Thursday, May 21st will be given a dividend of 0.1125 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date of this dividend is Thursday, May 21st.

Ares Dynamic Credit Allocation Fund Trading Down 0.0%

Ares Dynamic Credit Allocation Fund stock opened at $12.88 on Tuesday. The firm has a 50-day moving average of $12.35 and a 200-day moving average of $13.06. Ares Dynamic Credit Allocation Fund has a 1-year low of $11.60 and a 1-year high of $15.03.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AdvisorNet Financial Inc lifted its holdings in Ares Dynamic Credit Allocation Fund by 3.7% in the first quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock worth $6,116,000 after buying an additional 17,969 shares during the period. World Investment Advisors purchased a new stake in Ares Dynamic Credit Allocation Fund in the fourth quarter worth about $251,000. Sit Investment Associates Inc. purchased a new stake in Ares Dynamic Credit Allocation Fund in the fourth quarter worth about $3,975,000. Invesco Ltd. lifted its holdings in Ares Dynamic Credit Allocation Fund by 4.3% in the fourth quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock worth $4,523,000 after buying an additional 13,867 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Ares Dynamic Credit Allocation Fund in the fourth quarter worth about $358,000.

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.