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

by · The Cerbat Gem

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Free Report) declared a monthly dividend on Monday, October 14th, Wall Street Journal reports. Investors of record on Monday, October 21st will be paid a dividend of 0.1175 per share on Thursday, October 31st. This represents a $1.41 dividend on an annualized basis and a yield of 9.20%. The ex-dividend date is Monday, October 21st.

Ares Dynamic Credit Allocation Fund Price Performance

ARDC traded up $0.01 during mid-day trading on Monday, reaching $15.33. 73,842 shares of the company traded hands, compared to its average volume of 100,059. The company’s fifty day moving average price is $15.22 and its 200-day moving average price is $14.77. Ares Dynamic Credit Allocation Fund has a 52-week low of $11.83 and a 52-week high of $15.49.

Ares Dynamic Credit Allocation Fund Company Profile

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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.

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