Ares Dynamic Credit Allocation Fund, Inc. (ARDC) to Distribute Monthly Dividend of $0.11 on September 30th

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Friday, September 11th. Shareholders of record on Monday, September 21st will be given a dividend of 0.1125 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 11.2%. The ex-dividend date is Monday, September 21st.

Ares Dynamic Credit Allocation Fund Stock Performance

ARDC stock traded down $0.07 during trading hours on Friday, hitting $12.02. The company’s stock had a trading volume of 95,734 shares, compared to its average volume of 115,414. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.60 and a 12 month high of $14.89. The stock has a 50 day moving average price of $12.37 and a two-hundred day moving average price of $12.45.

Insider Transactions at Ares Dynamic Credit Allocation Fund

In other Ares Dynamic Credit Allocation Fund news, major shareholder Financial For Luthera Thrivent acquired 240,000 shares of the firm’s 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 trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several large investors have recently made changes to their positions in ARDC. Foundations Investment Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 16.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock valued at $5,711,000 after acquiring an additional 59,102 shares in the last quarter. Icon Advisers Inc. Co. acquired a new position in Ares Dynamic Credit Allocation Fund during the first quarter valued at approximately $1,182,000. Sit Investment Associates Inc. bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter worth $3,975,000. NewEdge Wealth LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $3,154,000. Finally, Susquehanna International Group LLP acquired a new position in Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at $140,000.

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.