LPL Financial LLC Increases Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

LPL Financial LLC raised its position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 19.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,441 shares of the company’s stock after buying an additional 3,758 shares during the quarter. LPL Financial LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its position in Ares Dynamic Credit Allocation Fund by 2.9% during the 4th quarter. Advisors Asset Management Inc. now owns 409,946 shares of the company’s stock valued at $6,194,000 after purchasing an additional 11,567 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at $1,066,000. NewEdge Wealth LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 19.5% in the 4th quarter. NewEdge Wealth LLC now owns 106,308 shares of the company’s stock valued at $1,606,000 after acquiring an additional 17,350 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 23.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 394,525 shares of the company’s stock valued at $5,961,000 after buying an additional 74,226 shares in the last quarter. Finally, Secure Asset Management LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 46.6% in the fourth quarter. Secure Asset Management LLC now owns 187,935 shares of the company’s stock worth $2,840,000 after purchasing an additional 59,702 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Stock Performance

Ares Dynamic Credit Allocation Fund stock opened at $13.47 on Friday. The company’s fifty day simple moving average is $13.92 and its 200-day simple moving average is $14.75. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.52 and a 12 month high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 21st will be issued a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 10.02%. The ex-dividend date of this dividend is Monday, April 21st.

Ares Dynamic Credit Allocation Fund Profile

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.