Ares Dynamic Credit Allocation Fund, Inc. Declares Monthly Dividend of $0.11 (NYSE:ARDC)

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Monday, May 12th, Wall Street Journal reports. Shareholders of record on Monday, May 19th will be given a dividend of 0.1125 per share on Friday, May 30th. This represents a $1.35 annualized dividend and a yield of 9.62%. The ex-dividend date is Monday, May 19th.

Ares Dynamic Credit Allocation Fund Price Performance

Ares Dynamic Credit Allocation Fund stock traded up $0.14 during trading hours on Monday, hitting $14.04. The stock had a trading volume of 70,174 shares, compared to its average volume of 95,272. Ares Dynamic Credit Allocation Fund has a one year low of $11.52 and a one year high of $15.62. The business’s 50 day simple moving average is $13.69 and its 200-day simple moving average is $14.65.

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.