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.
