Ares Dynamic Credit Allocation Fund, Inc. (ARDC) to Issue Monthly Dividend of $0.10 on May 31st

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCGet Rating) declared a monthly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders 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 9.02%. The ex-dividend date of this dividend is Thursday, May 19th.

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

Shares of NYSE:ARDC opened at $12.97 on Friday. Ares Dynamic Credit Allocation Fund has a 1-year low of $12.89 and a 1-year high of $16.66. The company has a 50 day moving average price of $14.09 and a 200 day moving average price of $15.16.

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 that occurred on Thursday, March 17th. The stock was purchased at an average cost of $14.18 per share, for a total transaction of $141,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

A number of large investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the 3rd quarter worth approximately $183,000. LPL Financial LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 16.4% in the 4th quarter. LPL Financial LLC now owns 18,417 shares of the company’s stock worth $301,000 after purchasing an additional 2,600 shares during the period. NewEdge Advisors LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 6.8% in the 1st quarter. NewEdge Advisors LLC now owns 23,559 shares of the company’s stock worth $341,000 after purchasing an additional 1,500 shares during the period. Morgan Stanley boosted its stake in Ares Dynamic Credit Allocation Fund by 21.4% in the 2nd quarter. Morgan Stanley now owns 170,553 shares of the company’s stock worth $2,758,000 after purchasing an additional 30,081 shares during the period. Finally, Invesco Ltd. boosted its stake in Ares Dynamic Credit Allocation Fund by 14.2% in the 4th quarter. Invesco Ltd. now owns 615,898 shares of the company’s stock worth $10,058,000 after purchasing an additional 76,453 shares during the period.

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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