Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Free Report) shares traded up 1.2% during mid-day trading on Monday. The stock traded as high as $11.67 and last traded at $11.64. Approximately 153,288 shares were traded during mid-day trading, an increase of 25% from the average session volume of 122,652 shares. The stock had previously closed at $11.50.
Ares Dynamic Credit Allocation Fund Stock Up 1.2%
The business has a fifty day moving average price of $11.69 and a 200 day moving average price of $12.38.
Ares Dynamic Credit Allocation Fund Dividend Announcement
The company also recently announced a monthly dividend, which was paid on Friday, October 30th. Investors of record on Monday, October 19th were given a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend was Monday, October 19th.
Insider Transactions at Ares Dynamic Credit Allocation Fund
In other news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were purchased 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 approximately $6,000,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund
Several hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC lifted 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 worth $64,000 after purchasing an additional 1,945 shares in the last quarter. Susquehanna International Group LLP bought a new position in Ares Dynamic Credit Allocation Fund in the second quarter valued at $140,000. Waverly Advisors LLC grew its position in 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 valued at $207,000 after purchasing an additional 4,178 shares in the last quarter. Integrity Advisory Solutions LLC grew its position in Ares Dynamic Credit Allocation Fund by 51.2% in the third quarter. Integrity Advisory Solutions LLC now owns 21,508 shares of the company’s stock valued at $247,000 after purchasing an additional 7,287 shares in the last quarter. Finally, Choreo LLC grew its position in Ares Dynamic Credit Allocation Fund by 6.5% in the third quarter. Choreo LLC now owns 21,652 shares of the company’s stock valued at $249,000 after purchasing an additional 1,325 shares in the last quarter.
About Ares Dynamic Credit Allocation Fund
Ares Dynamic Credit Allocation Fund is a publicly traded closed-end 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 diversified portfolio of credit-related assets.
Its investments may include broadly syndicated loans, high-yield bonds, investment-grade corporate debt, structured credit, collateralized loan obligation securities and other fixed-income instruments.
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