Ares Dynamic Credit Allocation Fund said on April 11, 2023 that its board of directors declared a regular
monthly dividend of $0.11 per share ($1.35 annualized).
Previously, the company paid $0.11 per share.
Shares must be purchased before the ex-div date of April 20, 2023 to qualify for the dividend.
Shareholders of record as of April 21, 2023
will receive the payment on April 28, 2023.
At the current share price of $12.00 / share,
the stock’s dividend yield is 11.25%.
Looking back five years and taking a sample every week, the average dividend yield has been
9.17%,
the lowest has been 7.75%,
and the highest has been 13.54%.
The standard deviation of yields is 1.17 (n=236).
The current dividend yield is
1.78 standard deviations
above
the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 86 funds or institutions reporting positions in Ares Dynamic Credit Allocation Fund.
This is an increase
of
4
owner(s) or 4.88% in the last quarter.
Average portfolio weight of all funds dedicated to ARDC is 0.40%,
an increase
of 85.89%.
Total shares owned by institutions decreased
in the last three months by 4.91% to 9,315K shares.
What are Other Shareholders Doing?
Oppenheimer
holds 99K shares.
No change in the last quarter.
Stifel Financial
holds 302K shares.
In it’s prior filing, the firm reported owning 296K shares, representing
an increase
of 2.05%.
The firm
decreased
its portfolio allocation in ARDC by 99.98% over the last quarter.
Landscape Capital Management, L.l.c.
holds 17K shares.
In it’s prior filing, the firm reported owning 14K shares, representing
an increase
of 21.59%.
The firm
increased
its portfolio allocation in ARDC by 41.39% over the last quarter.
Virtu Financial
holds 16K shares.
In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00%.
EverSource Wealth Advisors
holds 0K shares.
No change in the last quarter.
Ares Dynamic Credit Allocation Fund Background Information
(This description is provided by the company.)
Ares Dynamic Credit Allocation Fund, Inc. is a closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management Corporation. ARDC seeks to provide an attractive level of total return primarily through current income and, secondarily, through capital appreciation. ARDC invests in a broad, dynamically-managed portfolio of credit investments. There can be no assurance that ARDC will achieve its investment objective.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
