Ares Dynamic Credit Allocation Fund, Inc. (ARDC) to Issue Monthly Dividend of $0.11 on February 27th

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, February 10th. Shareholders of record on Friday, February 20th will be given a dividend of 0.1125 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date is Friday, February 20th.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of ARDC stock opened at $13.19 on Wednesday. The business has a 50-day moving average of $13.39 and a 200 day moving average of $13.82. Ares Dynamic Credit Allocation Fund has a 1-year low of $11.52 and a 1-year high of $15.37.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

A number of hedge funds have recently modified their holdings of ARDC. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 6,060.6% during the fourth 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 period. EverSource Wealth Advisors LLC raised its position in Ares Dynamic Credit Allocation Fund by 60.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock valued at $34,000 after purchasing an additional 957 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 33.6% in the 3rd quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock worth $64,000 after buying an additional 1,136 shares during the period. GoalVest Advisory LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the 2nd quarter worth approximately $100,000. Finally, Camelot Portfolios LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $112,000.

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.