Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) to Issue Monthly Dividend of $0.11

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Thursday, June 11th. Stockholders of record on Monday, June 22nd will be given a dividend of 0.1125 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 10.8%. The ex-dividend date of this dividend is Monday, June 22nd.

Ares Dynamic Credit Allocation Fund Price Performance

Ares Dynamic Credit Allocation Fund stock opened at $12.56 on Friday. The firm’s 50 day simple moving average is $12.54 and its 200-day simple moving average is $12.89. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $11.60 and a fifty-two week high of $15.03.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Waverly Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 32.4% in the first quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock worth $207,000 after acquiring an additional 4,178 shares in the last quarter. Icon Advisers Inc. Co. purchased a new position in Ares Dynamic Credit Allocation Fund during the first quarter valued at approximately $1,182,000. NewEdge Wealth LLC grew its position in Ares Dynamic Credit Allocation Fund by 5.4% during the first quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock valued at $3,128,000 after purchasing an additional 13,260 shares in the last quarter. AdvisorNet Financial Inc grew its position in Ares Dynamic Credit Allocation Fund by 3.7% during the first quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock valued at $6,116,000 after purchasing an additional 17,969 shares in the last quarter. Finally, World Investment Advisors purchased a new position in Ares Dynamic Credit Allocation Fund during the fourth quarter valued at approximately $251,000.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.