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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Friday, October 9th. Shareholders of record on Monday, October 19th will be given a dividend of $0.1125 per share on Friday, October 30th. This represents a $1.35 annualized dividend and a yield of 11.9%. The ex-dividend date of this dividend is Monday, October 19th.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of NYSE ARDC traded up $0.01 during trading on Friday, reaching $11.37. 178,732 shares of the company traded hands, compared to its average volume of 117,572. The firm has a 50 day simple moving average of $11.97 and a 200-day simple moving average of $12.34. Ares Dynamic Credit Allocation Fund has a 52-week low of $11.21 and a 52-week high of $13.99.

Insider Buying and Selling at Ares Dynamic Credit Allocation Fund

In related news, major shareholder Financial For Luthera Thrivent acquired 240,000 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average price of $25.00 per share, for a total transaction of $6,000,000.00. Following the completion of the transaction, the insider directly owned 240,000 shares in the company, valued at approximately $6,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 54.3% during the 3rd quarter. CoreCap Advisors LLC now owns 5,529 shares of the company’s stock valued at $64,000 after buying an additional 1,945 shares during the period. Waverly Advisors LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 32.4% in the 1st quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock worth $207,000 after buying an additional 4,178 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth $140,000. NewEdge Wealth LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 5.4% in the first quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock worth $3,128,000 after acquiring an additional 13,260 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 3.7% in the first quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock worth $6,116,000 after acquiring an additional 17,969 shares during the period.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund is a diversified, closed-end management 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 broad range of credit-related assets.

Its portfolio may include senior secured loans, high-yield bonds, investment-grade debt, structured credit investments and other fixed-income securities. By allocating across different credit sectors, the fund is designed to pursue income opportunities while managing exposure to changing economic and market conditions.

Ares Dynamic Credit Allocation Fund is advised by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.