Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Announces Monthly Dividend of $0.12

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Thursday, April 11th, Wall Street Journal reports. Shareholders of record on Monday, April 22nd will be paid a dividend of 0.1175 per share on Tuesday, April 30th. This represents a $1.41 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date is Friday, April 19th.

Ares Dynamic Credit Allocation Fund has raised its dividend payment by an average of 4.1% annually over the last three years and has increased its dividend every year for the last 2 years.

Ares Dynamic Credit Allocation Fund Trading Down 0.1 %

Shares of Ares Dynamic Credit Allocation Fund stock opened at $13.81 on Wednesday. Ares Dynamic Credit Allocation Fund has a 1-year low of $11.56 and a 1-year high of $14.30. The company’s fifty day simple moving average is $13.93 and its 200-day simple moving average is $13.33.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in shares of Ares Dynamic Credit Allocation Fund by 20.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,503 shares of the company’s stock worth $241,000 after purchasing an additional 2,990 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 39.2% in the 4th quarter. Cetera Advisor Networks LLC now owns 23,064 shares of the company’s stock worth $317,000 after buying an additional 6,490 shares during the period. Stifel Financial Corp raised its holdings in Ares Dynamic Credit Allocation Fund by 4.3% during the fourth quarter. Stifel Financial Corp now owns 317,775 shares of the company’s stock valued at $4,369,000 after acquiring an additional 13,217 shares during the period. Lazard Asset Management LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 217.5% in the second quarter. Lazard Asset Management LLC now owns 43,791 shares of the company’s stock valued at $539,000 after acquiring an additional 30,000 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Ares Dynamic Credit Allocation Fund in the first quarter worth about $200,000.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.