Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Declares Monthly Dividend of $0.12

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 given 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 10.14%. 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% per year over the last three years and has raised its dividend every year for the last 2 years.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of ARDC stock opened at $13.90 on Thursday. The company’s fifty day moving average price is $13.93 and its 200-day moving average price is $13.33. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.56 and a 12 month high of $14.30.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several hedge funds have recently bought and sold shares of ARDC. Money Concepts Capital Corp bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $52,000. Envestnet Asset Management Inc. bought a new stake in Ares Dynamic Credit Allocation Fund in the third quarter worth $126,000. Mariner LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth $127,000. Virtu Financial LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth $180,000. Finally, Cetera Advisor Networks LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter valued at $189,000.

Ares Dynamic Credit Allocation Fund Company Profile

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.