Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Tuesday, October 12th, Wall Street Journal reports. Investors of record on Friday, October 22nd will be given a dividend of 0.0975 per share on Friday, October 29th. This represents a $1.17 annualized dividend and a dividend yield of 7.10%. The ex-dividend date of this dividend is Thursday, October 21st.
Ares Dynamic Credit Allocation Fund has decreased its dividend payment by 3.6% over the last three years and has raised its dividend every year for the last 2 years.
Shares of NYSE ARDC opened at $16.47 on Wednesday. The stock’s 50 day moving average price is $16.33 and its two-hundred day moving average price is $15.93. Ares Dynamic Credit Allocation Fund has a 52-week low of $12.04 and a 52-week high of $16.66.
An institutional investor recently raised its position in Ares Dynamic Credit Allocation Fund stock. Morgan Stanley grew its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 21.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,553 shares of the company’s stock after purchasing an additional 30,081 shares during the period. Morgan Stanley’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,758,000 as of its most recent SEC filing.
Ares Dynamic Credit Allocation Fund Company Profile
Ares Dynamic Credit Allocation Fund, Inc is a closed-end investment company. Its investment objective is to provide an attractive level of total return, through current income, and capital appreciation. The company was founded on March 14, 2011 and is headquartered in Los Angeles, CA.
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