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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Tuesday, August 11th. Stockholders of record on Friday, August 21st will be given a dividend of 0.1125 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Friday, August 21st.

Ares Dynamic Credit Allocation Fund Stock Down 0.0%

Shares of NYSE:ARDC traded down $0.01 during mid-day trading on Wednesday, hitting $12.45. 20,719 shares of the company traded hands, compared to its average volume of 121,403. The stock has a 50-day moving average price of $12.57 and a two-hundred day moving average price of $12.63. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.60 and a 12-month high of $15.03.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several institutional investors have recently made changes to their positions in ARDC. Northwestern Mutual Wealth Management Co. boosted its holdings in Ares Dynamic Credit Allocation Fund by 6,060.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock worth $27,000 after purchasing an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 buying an additional 957 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter worth approximately $112,000. Founders Financial Alliance LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $140,000. Finally, Anfield Capital Management LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 54.8% in the fourth quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock valued at $168,000 after acquiring an additional 4,462 shares in the last quarter.

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.