Wells Fargo & Company MN Has $12.27 Million Stock Holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Wells Fargo & Company MN raised its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCFree Report) by 21.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 891,976 shares of the company’s stock after purchasing an additional 158,262 shares during the period. Wells Fargo & Company MN’s holdings in Ares Dynamic Credit Allocation Fund were worth $12,265,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates increased its position in Ares Dynamic Credit Allocation Fund by 53.5% in the 4th quarter. Raymond James & Associates now owns 128,660 shares of the company’s stock valued at $1,769,000 after buying an additional 44,820 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 22.1% during the third quarter. Lazard Asset Management LLC now owns 53,449 shares of the company’s stock valued at $689,000 after acquiring an additional 9,658 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 10.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 260,207 shares of the company’s stock worth $3,492,000 after purchasing an additional 23,819 shares during the period. Spire Wealth Management lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 85.7% in the 4th quarter. Spire Wealth Management now owns 6,500 shares of the company’s stock worth $89,000 after purchasing an additional 3,000 shares in the last quarter. Finally, UBS Group AG grew its position in Ares Dynamic Credit Allocation Fund by 0.5% in the 3rd quarter. UBS Group AG now owns 201,595 shares of the company’s stock valued at $2,601,000 after purchasing an additional 916 shares during the period.

Insider Buying and Selling

In other Ares Dynamic Credit Allocation Fund news, Director John Joseph Shaw sold 15,876 shares of Ares Dynamic Credit Allocation Fund stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $14.09, for a total transaction of $223,692.84. Following the completion of the transaction, the director now owns 14,124 shares in the company, valued at approximately $199,007.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of ARDC stock opened at $14.52 on Monday. The firm has a fifty day simple moving average of $14.17 and a two-hundred day simple moving average of $13.73. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.64 and a 12 month high of $14.89.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were given a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a dividend yield of 9.71%. The ex-dividend date of this dividend was Monday, May 20th.

Ares Dynamic Credit Allocation Fund Company Profile

(Free Report)

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.

Recommended Stories

Want to see what other hedge funds are holding ARDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCFree Report).

Institutional Ownership by Quarter for Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

Receive News & Ratings for Ares Dynamic Credit Allocation Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Dynamic Credit Allocation Fund and related companies with MarketBeat.com's FREE daily email newsletter.