Thrivent Financial buys $6m in Ares Dynamic Credit preferred shares

Thrivent Financial, a 10% stakeholder in Ares Dynamic Credit Allocation Fund, has acquired a significant position in the fund’s Mandatory Redeemable Preferred Shares, Series E. On September 14, 2026, the company purchased 240,000 shares of these preferred shares at a rate of $25.00 each, amounting to a total of $6,000,000. The value of the fund’s common shares currently hovers around $12.04, close to its 52-week low of $11.60, and boasts a lucrative dividend yield of 11.17%.

According to InvestingPro, Ares Dynamic Credit has demonstrated a commendable track record of dividend payments for 14 consecutive years, with an additional five ProTips available to subscribers through the platform. Earlier in the same week, on September 15, 2026, Thrivent Financial engaged in a separate transaction where it redeemed 360,000 shares of its Series B Mandatory Redeemable Preferred Shares.

These shares were sold back to the issuer at the same price of $25.00 per share. Following these transactions, Thrivent Financial for Lutherans now benefits from ownership of 240,000 Series E Mandatory Redeemable Preferred Shares, complemented by a substantial holding of 400,000 Series C and 160,000 Series D Mandatory Redeemable Preferred Shares.