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

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 paid 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 is Monday, June 22nd.

Ares Dynamic Credit Allocation Fund Stock Down 0.0%

Shares of ARDC opened at $12.56 on Friday. The firm’s 50 day moving average is $12.54 and its 200-day moving average is $12.89. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.60 and a 12-month high of $15.03.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 6,060.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock worth $27,000 after purchasing an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 60.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after purchasing an additional 957 shares during the last quarter. Camelot Portfolios LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $112,000. Founders Financial Alliance LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $140,000. Finally, Anfield Capital Management LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 54.8% in the 4th quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock worth $168,000 after purchasing an additional 4,462 shares during the last quarter.

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.