Ares Dynamic Credit Allocation Fund, Inc. (ARDC) to Issue Monthly Dividend of $0.12 on April 30th

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Thursday, April 11th, Wall Street Journal reports. Shareholders of record on Monday, April 22nd will be paid a dividend of 0.1175 per share on Tuesday, April 30th. This represents a $1.41 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date of this dividend is Friday, April 19th.

Ares Dynamic Credit Allocation Fund has raised its dividend by an average of 4.1% annually over the last three years and has raised its dividend every year for the last 2 years.

Ares Dynamic Credit Allocation Fund Stock Down 0.1 %

ARDC opened at $13.81 on Wednesday. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.56 and a 12 month high of $14.30. The company has a 50 day moving average of $13.93 and a 200 day moving average of $13.33.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Money Concepts Capital Corp purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $52,000. Envestnet Asset Management Inc. purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at about $126,000. Mariner LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at about $127,000. Goldman Sachs Group Inc. bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter valued at about $212,000. Finally, Virtu Financial LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter worth about $180,000.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. 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, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.