Ares Dynamic Credit Allocation Fund (ARDC) Reaches New 1-Year Low at $14.46
Shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) reached a new 52-week low during trading on Thursday . The stock traded as low as $14.46 and last traded at $14.47, with a volume of 162106 shares trading hands. The stock had previously closed at $14.78.
The firm also recently declared a dividend, which will be paid on Monday, December 31st. Stockholders of record on Thursday, December 20th will be issued a $0.108 dividend. The ex-dividend date is Wednesday, December 19th.
In other Ares Dynamic Credit Allocation Fund news, Director John Joseph Shaw purchased 20,000 shares of Ares Dynamic Credit Allocation Fund stock in a transaction dated Wednesday, September 26th. The stock was acquired at an average cost of $15.56 per share, with a total value of $311,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
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About Ares Dynamic Credit Allocation Fund (NYSE:ARDC)
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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