Oppenheimer & Co. Inc. Sells 1,699 Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Oppenheimer & Co. Inc. lessened its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCFree Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,879 shares of the company’s stock after selling 1,699 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 85.7% during the fourth quarter. Spire Wealth Management now owns 6,500 shares of the company’s stock valued at $89,000 after purchasing an additional 3,000 shares in the last quarter. Advisor Resource Council acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter valued at about $360,000. Lazard Asset Management LLC boosted its stake 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 purchasing an additional 9,658 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter valued at about $1,156,000. Finally, Raymond James & Associates boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 53.5% during the fourth quarter. Raymond James & Associates now owns 128,660 shares of the company’s stock valued at $1,769,000 after purchasing an additional 44,820 shares in the last quarter.

Insider Buying and Selling

In related news, Director John Joseph Shaw sold 15,876 shares of Ares Dynamic Credit Allocation Fund stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $14.09, for a total value of $223,692.84. Following the transaction, the director now directly owns 14,124 shares of the company’s stock, valued at $199,007.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC stock opened at $14.62 on Tuesday. The business’s 50-day moving average price is $14.23 and its 200-day moving average price is $13.82. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.83 and a 12 month high of $14.93.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were paid a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date was Monday, May 20th.

Ares Dynamic Credit Allocation Fund 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.

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

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