KDK Fund has purchased shares in Ares Commercial REIT. The price paid was $10.80 per share. The fund now owns shares in Ford, AT&T, Apple, Powershares Build America Bond Fund, and Ares.
Some reasons for the purchase are below:
- Dividends are currently at 9.5%. Dividends are regularly given out around the 15th of the first month of each quarter. There is no expectation to sell these shares.
- This purchase will now add four new days of dividend payments to the fund. The fund now has 28 days during the year where it is receiving dividends. A portion of all dividends received is always reinvested.
- The fund needed to establish some presence in real estate. This purchase will be a good first step.
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