Ares Dynamic Credit Allocation Fund, Inc. (ARDC) To Go Ex-Dividend on November 20th

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Tuesday, November 10th. Stockholders 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 annualized dividend and a dividend yield of 11.7%. The ex-dividend date of this dividend is Friday, November 20th.

Ares Dynamic Credit Allocation Fund Trading Down 0.3%

Shares of Ares Dynamic Credit Allocation Fund stock opened at $11.52 on Thursday. Ares Dynamic Credit Allocation Fund has a 52 week low of $11.10 and a 52 week high of $13.99. The company’s 50-day moving average price is $11.65 and its two-hundred day moving average price is $12.36.

Insider Buying and Selling

In other Ares Dynamic Credit Allocation Fund news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of Ares Dynamic Credit Allocation Fund stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $6,000,000.00. Following the completion of the acquisition, the insider 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 3rd quarter worth $4,191,000. Integrity Advisory Solutions LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 51.2% in the 3rd quarter. Integrity Advisory Solutions LLC now owns 21,508 shares of the company’s stock worth $247,000 after acquiring an additional 7,287 shares during the last quarter. Choreo LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 6.5% in the 3rd quarter. Choreo LLC now owns 21,652 shares of the company’s stock worth $249,000 after acquiring an additional 1,325 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of Ares Dynamic Credit Allocation Fund by 7.0% during the third quarter. AdvisorNet Financial Inc now owns 643,447 shares of the company’s stock worth $7,252,000 after purchasing an additional 42,161 shares during the period. Finally, Shaker Financial Services LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 89.4% during the third quarter. Shaker Financial Services LLC now owns 196,145 shares of the company’s stock worth $2,256,000 after purchasing an additional 92,604 shares during the period.

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.