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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Friday, October 9th. Investors of record on Monday, October 19th will be given a dividend of $0.1125 per share on Friday, October 30th. This represents a $1.35 annualized dividend and a yield of 11.9%. The ex-dividend date is Monday, October 19th.

Ares Dynamic Credit Allocation Fund Stock Performance

NYSE:ARDC traded up $0.01 during trading hours on Friday, reaching $11.37. The stock had a trading volume of 178,732 shares, compared to its average volume of 117,572. The stock has a 50 day simple moving average of $11.97 and a 200 day simple moving average of $12.34. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.21 and a 12-month high of $13.99.

Insider Activity at Ares Dynamic Credit Allocation Fund

In other news, major shareholder Financial For Luthera Thrivent purchased 240,000 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $25.00 per share, for a total transaction of $6,000,000.00. Following the purchase, the insider owned 240,000 shares of the company’s stock, valued at $6,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Large investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in Ares Dynamic Credit Allocation Fund by 7.0% during the third quarter. AdvisorNet Financial Inc now owns 643,447 shares of the company’s stock worth $7,252,000 after purchasing an additional 42,161 shares during the period. Shaker Financial Services LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 89.4% in the third quarter. Shaker Financial Services LLC now owns 196,145 shares of the company’s stock worth $2,256,000 after purchasing an additional 92,604 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 26.6% in the third quarter. Farther Finance Advisors LLC now owns 199,121 shares of the company’s stock valued at $2,290,000 after purchasing an additional 41,869 shares during the period. CoreCap Advisors LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 54.3% in the third quarter. CoreCap Advisors LLC now owns 5,529 shares of the company’s stock valued at $64,000 after purchasing an additional 1,945 shares during the period. Finally, Susquehanna International Group LLP bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter valued at approximately $140,000.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund is a diversified, closed-end management investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a broad range of credit-related assets.

Its portfolio may include senior secured loans, high-yield bonds, investment-grade debt, structured credit investments and other fixed-income securities. By allocating across different credit sectors, the fund is designed to pursue income opportunities while managing exposure to changing economic and market conditions.

Ares Dynamic Credit Allocation Fund is advised by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.