Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Major Shareholder Financial For Luthera Thrivent Acquires 240,000 Shares

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) major shareholder Financial For Luthera Thrivent acquired 240,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost 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 $6,000,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Ares Dynamic Credit Allocation Fund Stock Down 0.2%

Ares Dynamic Credit Allocation Fund stock opened at $12.01 on Thursday. The business has a 50 day moving average of $12.40 and a 200-day moving average of $12.46. Ares Dynamic Credit Allocation Fund, Inc. has a 1 year low of $11.60 and a 1 year high of $14.93.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be issued a $0.1125 dividend. This represents a c) dividend on an annualized basis and a yield of 11.2%. The ex-dividend date is Monday, September 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARDC. EverSource Wealth Advisors LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 60.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after acquiring an additional 957 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth approximately $140,000. Waverly Advisors LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 32.4% during the first quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock worth $207,000 after purchasing an additional 4,178 shares during the period. World Investment Advisors bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth $251,000. Finally, Closed End Fund Advisors Inc. bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth $330,000.

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.