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.

Several institutional investors and hedge funds have recently bought and sold shares of the company. NINE MASTS CAPITAL Ltd lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 155.1% in the 3rd quarter. NINE MASTS CAPITAL Ltd now owns 98,200 shares of the company’s stock valued at $1,525,000 after buying an additional 59,700 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at approximately $165,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 35.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 13,555 shares of the company’s stock valued at $213,000 after buying an additional 3,516 shares during the period. Miracle Mile Advisors LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 33.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 15,000 shares of the company’s stock valued at $233,000 after buying an additional 3,720 shares during the period. Finally, Shaker Financial Services LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 463.2% in the 3rd quarter. Shaker Financial Services LLC now owns 152,259 shares of the company’s stock valued at $2,365,000 after buying an additional 125,223 shares during the period.

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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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