Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Rating) announced a monthly dividend on Monday, September 12th, Wall Street Journal reports. Investors of record on Monday, September 19th will be given a dividend of 0.1025 per share on Friday, September 30th. This represents a $1.23 annualized dividend and a dividend yield of 9.49%. The ex-dividend date is Friday, September 16th.
Ares Dynamic Credit Allocation Fund has decreased its dividend payment by an average of 3.2% annually over the last three years and has increased its dividend annually for the last 1 consecutive years.
Get
Ares Dynamic Credit Allocation Fund alerts:
Ares Dynamic Credit Allocation Fund Price Performance
ARDC stock traded down $0.12 during trading on Tuesday, hitting $12.96. The company had a trading volume of 75,766 shares, compared to its average volume of 87,325. The company has a fifty day moving average price of $12.79 and a two-hundred day moving average price of $13.32. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $11.79 and a fifty-two week high of $16.66.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in ARDC. Goldman Sachs Group Inc. bought a new stake in Ares Dynamic Credit Allocation Fund during the 1st quarter worth about $212,000. Royal Bank of Canada lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 87.1% during the 1st quarter. Royal Bank of Canada now owns 16,690 shares of the company's stock worth $241,000 after buying an additional 7,769 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter valued at approximately $251,000. Rivernorth Capital Management LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter worth $252,000. Finally, LPL Financial LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 6.4% in the 2nd quarter. LPL Financial LLC now owns 20,755 shares of the company's stock valued at $253,000 after purchasing an additional 1,256 shares during the period.
Ares Dynamic Credit Allocation Fund Company Profile
(Get Rating)
Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.
Featured Stories
- Get a free copy of the StockNews.com research report on Ares Dynamic Credit Allocation Fund (ARDC)
- This Is What To Expect From The S&P 500 Now
- The Two Things You Need To Know About Oracle's FQ1 Report
- Three Value Stocks For A Volatile Market
- 3 Energy Stocks Nearing Breakouts From Cup-Shaped Patterns
- Do These Dividend Achievers Deserve A Place In Your Portfolio?
Receive News & Ratings for Ares Dynamic Credit Allocation Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Dynamic Credit Allocation Fund and related companies with MarketBeat.com's FREE daily email newsletter.
