Advisors Asset Management Inc. Trims Stake in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Advisors Asset Management Inc. trimmed its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 374,456 shares of the company’s stock after selling 31,962 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $5,325,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. United Advisor Group LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 1.6% in the second quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock valued at $4,782,000 after acquiring an additional 5,435 shares in the last quarter. Axim Planning & Wealth purchased a new position in Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $167,000. Shaker Financial Services LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 100.4% in the 2nd quarter. Shaker Financial Services LLC now owns 106,790 shares of the company’s stock valued at $1,519,000 after purchasing an additional 53,492 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 247.3% in the 2nd quarter. Wolverine Asset Management LLC now owns 67,150 shares of the company’s stock valued at $955,000 after purchasing an additional 47,813 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter worth approximately $100,000.

Ares Dynamic Credit Allocation Fund Trading Up 0.4%

NYSE ARDC opened at $13.57 on Thursday. The firm’s 50 day moving average price is $13.77 and its 200-day moving average price is $14.16. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $11.52 and a 52-week high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 21st will be given a dividend of $0.1125 per share. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend is Friday, November 21st.

About Ares Dynamic Credit Allocation Fund

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.