Icon Advisers Inc. Co. Makes New Investment in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Icon Advisers Inc. Co. acquired a new position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) during the first quarter, according to its most recent filing with the SEC. The firm acquired 97,237 shares of the company’s stock, valued at approximately $1,182,000.

Several other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 8.6% during the second quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock valued at $4,236,000 after acquiring an additional 23,540 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Ares Dynamic Credit Allocation Fund by 18.2% in the second quarter. Osaic Holdings Inc. now owns 61,122 shares of the company’s stock worth $869,000 after acquiring an additional 9,394 shares during the period. Virtu Financial LLC bought a new stake in Ares Dynamic Credit Allocation Fund in the third quarter valued at $786,000. Raymond James Financial Inc. boosted its holdings in Ares Dynamic Credit Allocation Fund by 5.8% in the third quarter. Raymond James Financial Inc. now owns 50,535 shares of the company’s stock valued at $711,000 after acquiring an additional 2,781 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its position in Ares Dynamic Credit Allocation Fund by 2.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock valued at $770,000 after purchasing an additional 1,361 shares during the period.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of NYSE ARDC opened at $12.53 on Thursday. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.60 and a 12 month high of $15.03. The firm has a fifty day simple moving average of $12.65 and a two-hundred day simple moving average of $12.74.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 20th will be given a dividend of $0.1125 per share. The ex-dividend date is Monday, July 20th. This represents a c) annualized dividend and a dividend yield of 10.8%.

Ares Dynamic Credit Allocation Fund Company Profile

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.