Ares Dynamic Credit Allocation Fund (ARDC) Reaches New 12-Month Low at $14.46

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Shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) hit a new 52-week low during trading on Thursday . The stock traded as low as $14.46 and last traded at $14.47, with a volume of 162106 shares traded. The stock had previously closed at $14.78.

The company also recently declared a dividend, which will be paid on Monday, December 31st. Investors of record on Thursday, December 20th will be given a dividend of $0.108 per share. The ex-dividend date is Wednesday, December 19th.

In other news, Director John Joseph Shaw purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The stock was purchased at an average cost of $15.56 per share, for a total transaction of $311,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in Ares Dynamic Credit Allocation Fund by 3.5% during the second quarter. Advisors Asset Management Inc. now owns 1,127,068 shares of the company’s stock worth $18,135,000 after buying an additional 37,642 shares during the last quarter. Bank of America Corp DE boosted its stake in Ares Dynamic Credit Allocation Fund by 2.7% during the second quarter. Bank of America Corp DE now owns 412,149 shares of the company’s stock worth $6,631,000 after buying an additional 10,870 shares during the last quarter. First Trust Advisors LP boosted its stake in Ares Dynamic Credit Allocation Fund by 15.9% during the third quarter. First Trust Advisors LP now owns 300,732 shares of the company’s stock worth $4,670,000 after buying an additional 41,182 shares during the last quarter. Laurion Capital Management LP boosted its stake in Ares Dynamic Credit Allocation Fund by 9.0% during the second quarter. Laurion Capital Management LP now owns 233,328 shares of the company’s stock worth $3,754,000 after buying an additional 19,296 shares during the last quarter. Finally, Shaker Financial Services LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 463.2% during the third quarter. Shaker Financial Services LLC now owns 152,259 shares of the company’s stock worth $2,365,000 after buying an additional 125,223 shares during the last quarter.

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About Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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.

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