Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund, Inc. is a closed-end investment company. Its investment objective is to provide an attractive level of total return, through current income, and capital appreciation. The company was founded on March 14, 2011 and is headquartered in Los Angeles, CA.

Ares Public Funds is an investment company. They provide investment activities in leveraged loans, high-yield bonds, private debt, private equity, and other types of investments. They offer alternative asset management, financial services, investment management, and direct lending.

Angel Oak Financial Strategies Income Term Trust

Nuveen Intermediate Duration Municipal Term Fund

Nuveen Intermediate Duration Quality Municipal Term Fund

We review CEF market valuation and performance through the first full week of September and highlight recent market action. CEFs had a decent week as most of the space was able to easily digest higher Treasury yields.

CEF Weekly Review: What's Behind Loan CEF Discount Underperformance?

NEW YORK--(BUSINESS WIRE)--Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced today the appointment of Elaine Orr to its Board of Directors (the “Board”) as an independent director and chair of the audit committee. In addition, ARDC announced today the resignation of Paula B. Pretlow from the Board. Both Ms. Orr's appointment and Ms. Pretlow's resignation became effective August 9, 2022. Ms. Orr brings extensive institutional investment, foundation and wealth manageme

Ares Dynamic Credit Allocation Fund Appoints Elaine Orr to Board of Directors

With the backing and experience of Ares Credit, ARDC can leverage higher credit spreads in senior loans and CLOs to easily cover the 9% distribution. The monthly dividend was just raised by 5% and the discount to NAV has widened to -8% offering a unique buying opportunity.

ARDC: Retire In Comfort With This 9% Yielding Dynamic Credit Fund

Blackrock Long-Term Municipal Advantage Trust

BNY Mellon Municipal Bond Infrastructure Fund, Inc. 

Federated Premier Municipal Income Fund

BlackRock MuniVest Fund Inc

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Pimco Municipal Income Fund

Pimco Municipal Income Fund III

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Western Asset Diversified Income Fund

Western Asset Premier Bond Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

Risk assets continue to rebound with investors focusing on the potential of a Fed pivot given slower growth and inflation. We think we will shift from a stagflationary economic regime to a deflationary bust one. That means adding duration and quality.

CEF Report August 2022 - CEFs Continue In Rally Mode, But For How Long?

NEW YORK--(BUSINESS WIRE)--Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced today that it has increased its monthly distribution for August 2022 to $0.1025 per common share from $0.0975 in July 2022, payable as noted below. The following dates apply to the declared distribution: Ex-Date: August 19, 2022 Record Date: August 22, 2022 Payable Date: August 31, 2022 Per Share Amount: $0.1025 Based on the Fund's current share price of $13.16 (as of its close on August 10,

Ares Dynamic Credit Allocation Fund Increases Monthly Distribution to $0.1025 Per Share

NEW YORK--(BUSINESS WIRE)--Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced the declaration of its distribution for the month of July 2022 of $0.0975 per common share, payable as noted below. The following dates apply to the declared distribution: Ex-Date: July 20, 2022 Record Date: July 21, 2022 Payable Date: July 29, 2022 Per Share Amount: $0.0975 Based on the Fund's current share price of $12.14 (as of its close on July 8, 2022), the distribution represents an an

Ares Dynamic Credit Allocation Fund Declares a Monthly Distribution of $0.0975 Per Share

ARDC is a closed-end fund focused on fixed income instruments. The fund invests predominantly in a portfolio of floating rate leveraged loans, high yield bonds and CLO debt.

ARDC: Moving From Sell To Hold After A -36% Annualized Performance

Apollo Tactical Income Fund, Inc.

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Vertical Capital Income Fund.

We review CEF market valuation and performance through the last week of March and highlight recent market action.

CEF Weekly Review: Rates Are Up, Why Are My Loan CEFs Down

Franklin Municipal Green Bond ETF

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The recent CEF market drawdown has made it clear that it is those investors who maintain dry powder reserves that can fully take advantage of current attractive CEF yields.

Growing CEF Portfolio Income In A Sustainable Way

Barings Global Short Duration High Yield Fund

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We review CEF market valuation and performance through the fourth week of March and highlight recent market action.

CEF Market Weekly Review: Do Investors Need To Worry About Deleveraging

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We review CEF market valuation and performance through the third week of March and highlight recent market action.

CEF Market Weekly Review: Why Falling In Love With Drawdowns Can Be Risky

We revisit the cross-credit fund ARDC - a consistent outperformer in the fixed-income CEF space.

ARDC: An Attractive Entry Point For This 8.5% Yielding Outperformer

Blackstone Long-Short Credit Income Fund

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Eagle Point Credit

Stone Harbor Emerging Markets Total Income Fund

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Western Asset High Income Opportunity Fund Inc

Western Asset High Income Fund

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New American High Income Fund

Nuveen Preferred & Income Term Fund

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KKR Income Opportunities Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

'High-High-Low' Closed-End Fund Report, February 2022: ARDC, HYB, JRI Buy Ratings Affirmed

ARDC is a closed end fund focused on fixed income instruments.

ARDC - Gain CLO Exposure Through This CEF

MFS Investment Grade Municipal Trust

OFS Credit Company Inc

PIMCO Corporate & Income Opportunity Fund

With most of tax-loss selling behind us, a small correction in discounts and the January effect ahead of us, it makes sense to consider a few CEF ideas. We take a look at funds that offer a decent track record as well as an attractive entry point in valuation terms.

Last Orders For 2021 CEF Opportunities

Apollo Senior Floating Rate Fund

Saba Closed-End Funds ETF

DoubleLine Yield Opportunities Fund

Eagle Point Income Company Inc

Nuveen Multi-Asset Income Fund

Pimco California Municipal Income Fund

Flaherty & Crumrine Preferred Income Fund Inc

Flaherty & Crumrine Preferred Income OpportunityFund Inc

Pimco California Municipal Income Fund III

We review CEF market valuation and performance through the second week of December and highlight recent market action.

CEF Weekly Market Review: Revisiting Resilient Core Themes

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We review CEF market valuation and performance over the first full week of October and highlight recent market events. The CEF market took advantage of the rally in stocks and mostly shrugged off the continued rise in Treasury yields.

CEF Weekly Market Review: Market Shrugs Off Treasury Weakness

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Blackrock Debt Strategies Fund Inc

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Western Asset Emerging Markets Debt Fund

First Trust MLP & Energy Income Fund

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PGIM Global High Yield Fund

PGIM High Yield Bond Fund

Pioneer Floating Rate Trust

Pioneer High Income Trust

Only funds with yields over 6.50%, coverage higher than 80% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

The 'High-High-Low' Closed-End Fund Report, July 2021

LOS ANGELES--(BUSINESS WIRE)--Ares Dynamic Credit Allocation Fund, Inc. (NYSE: ARDC) (the “Fund”) announced today that it completed an initial $20 million closing in the first of two closings for a total of $100 million in privately placed mandatory redeemable preferred stock (“MRPS”). The second closing for the remaining $80 million of MRPS is expected to be completed in the third quarter of 2021. Net proceeds from the MRPS will be used to repay existing debt and for investment and general cor

Ares Dynamic Credit Allocation Fund Announces $100 Million Private Placement of Preferred Stock

Invesco BulletShares 2023 High Yield Corporate Bond ETF

First Trust TCW Opportunistic Fixed Income ETF

Hartford Municipal Opportunities ETF

VanEck High Yield Muni ETF

First Trust Tactical High Yield ETF

SPDR Nuveen S&P High Yield Municipal Bond ETF

JPMorgan High Yield Research Enhanced ETF

Invesco KBW Premium Yield Equity REIT ETF

PIMCO Enhanced Short Maturity Active ETF

Virtus Newfleet Multi-Sector Bond ETF

Virtus InfraCap U.S. Preferred Stock ETF

WisdomTree CBOE S&P 500 PutWrite Strategy Fund

Global X NASDAQ 100 Covered Call ETF

Virtus Seix Senior Loan ETF

Global X SuperDividend REIT ETF

 SPDR Blackstone Senior Loan ETF

Vanguard Short-Term Corporate Bond ETF

Vanguard Mortgage-Backed Securities ETF

Vanguard Real Estate ETF

Global X S&P 500 Covered Call ETF

In counter-cyclical investing, we want to buy CEFs when discounts are wide and sell them when discounts are tight. The problem we run into is that when we swap, we give up the upside of the NAVs should the bull market continue. We also give up higher income streams.

Swap Options For Reducing Discount Risk And Not Sacrificing A Ton Of Yield

ARDC has an attractive 7.46% yield, provided the fund can support the distribution. I continue my series looking at CEFs beyond just the yield.

Evaluating CEFs: ARDC Provides Exposure To CLOs With A Veteran Manager

Eaton Vance Tax-Managed Global Diversified Equity Income Fund

Clough Global Opportunities Fund

John Hancock Tax-Advantaged Dividend Income Fund

Barings Corporate Investors

Oxford Lane Capital

Reaves Utility Income Fund

When I started in the financial business, calculators were few and far between, and pencil and paper were our primary analytical tools. Forget about computers and spreadsheets.

From Slide Rules To Spread Sheets: Coping With 'Analytic Overload'

Cross-sector credit CEFs remain attractive in the current market environment due to modest durations, wide investment mandates and allocations to CLO debt. We highlight a number of funds in the space such as ARDC, DCF, BGH and others, some of which we hold across our Income Portfolios.

Why Allocating To Cross-Sector Credit CEFs Remains Attractive

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As Q1 comes to an end, we take a look at the performance of the CEF market year-to-date. We also take a look at the key drivers of CEF discounts going forward.

CEF Market Update

AllianceBernstein Global High Income Fund Inc

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Invesco High Income Trust II

The high-yield CEF sector has done well though not as well as other sectors in terms of discount returns in the last month (+1.3%). The sector as a whole is near its long-term fair value with a discount of -5%. But with spreads near the pre-COVID tightest levels, there isn't much upside for NAVs.

CEF Analysis: High-Yield Sector Update

News for Ares Dynamic Credit Allocation Fund ETF (ARDC)