Icon Advisers Inc. Co. Makes New Investment in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Icon Advisers Inc. Co. purchased a new stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 97,237 shares of the company’s stock, valued at approximately $1,182,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARDC. Invesco Ltd. lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 8.6% in the 2nd quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock valued at $4,236,000 after acquiring an additional 23,540 shares during the last quarter. Osaic Holdings Inc. grew its position in Ares Dynamic Credit Allocation Fund by 18.2% during the 2nd quarter. Osaic Holdings Inc. now owns 61,122 shares of the company’s stock worth $869,000 after acquiring an additional 9,394 shares during the last quarter. Virtu Financial LLC bought a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter worth approximately $786,000. Raymond James Financial Inc. grew its position in Ares Dynamic Credit Allocation Fund by 5.8% during the 3rd quarter. Raymond James Financial Inc. now owns 50,535 shares of the company’s stock worth $711,000 after acquiring an additional 2,781 shares during the last quarter. Finally, Polar Asset Management Partners Inc. increased its stake in Ares Dynamic Credit Allocation Fund by 2.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after purchasing an additional 1,361 shares during the period.

Ares Dynamic Credit Allocation Fund Trading Down 0.1%

Shares of ARDC stock opened at $12.53 on Thursday. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.60 and a fifty-two week high of $15.03. The stock has a 50 day moving average price of $12.65 and a two-hundred day moving average price of $12.74.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 20th will be paid a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 10.8%. The ex-dividend date of this dividend is Monday, July 20th.

Ares Dynamic Credit Allocation Fund Company Profile

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.