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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Monday, August 12th, Wall Street Journal reports. Stockholders of record on Tuesday, August 20th will be paid a dividend of 0.1175 per share on Friday, August 30th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date of this dividend is Tuesday, August 20th.

Ares Dynamic Credit Allocation Fund Stock Up 1.9 %

NYSE:ARDC traded up $0.28 during mid-day trading on Monday, hitting $15.01. The stock had a trading volume of 129,945 shares, compared to its average volume of 103,435. Ares Dynamic Credit Allocation Fund has a twelve month low of $11.83 and a twelve month high of $15.40. The stock has a 50-day simple moving average of $14.89 and a two-hundred day simple moving average of $14.31.

Insider Activity at Ares Dynamic Credit Allocation Fund

In other Ares Dynamic Credit Allocation Fund news, Director John Joseph Shaw sold 15,876 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $14.09, for a total transaction of $223,692.84. Following the transaction, the director now owns 14,124 shares of the company’s stock, valued at $199,007.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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.