Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) to Issue $0.10 Monthly Dividend

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCGet Rating) announced a monthly dividend on Thursday, May 12th, Wall Street Journal reports. Investors of record on Friday, May 20th will be given a dividend of 0.0975 per share on Tuesday, May 31st. This represents a $1.17 annualized dividend and a dividend yield of 9.04%. The ex-dividend date is Thursday, May 19th.

Ares Dynamic Credit Allocation Fund has decreased its dividend payment by an average of 3.2% per year over the last three years.

Shares of ARDC opened at $12.94 on Friday. Ares Dynamic Credit Allocation Fund has a 12-month low of $12.89 and a 12-month high of $16.66. The business has a 50-day simple moving average of $14.16 and a two-hundred day simple moving average of $15.21.

In other Ares Dynamic Credit Allocation Fund news, Director Bruce H. Spector bought 10,000 shares of Ares Dynamic Credit Allocation Fund stock in a transaction on Thursday, March 17th. The shares were purchased at an average cost of $14.18 per share, with a total value of $141,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in Ares Dynamic Credit Allocation Fund by 8.5% during the 4th quarter. Wells Fargo & Company MN now owns 688,419 shares of the company’s stock worth $11,242,000 after purchasing an additional 53,967 shares during the last quarter. Invesco Ltd. increased its stake in shares of Ares Dynamic Credit Allocation Fund by 14.2% in the fourth quarter. Invesco Ltd. now owns 615,898 shares of the company’s stock valued at $10,058,000 after buying an additional 76,453 shares during the period. Morgan Stanley raised its position in shares of Ares Dynamic Credit Allocation Fund by 17.8% during the third quarter. Morgan Stanley now owns 200,957 shares of the company’s stock worth $3,253,000 after acquiring an additional 30,404 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth approximately $360,000. Finally, LPL Financial LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 16.4% in the fourth quarter. LPL Financial LLC now owns 18,417 shares of the company’s stock valued at $301,000 after acquiring an additional 2,600 shares during the last quarter.

About Ares Dynamic Credit Allocation Fund (Get Rating)

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.

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Dividend History for Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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