Ares Dynamic Credit Allocation Fund, Inc. $ARDC Shares Bought by AdvisorNet Financial Inc

AdvisorNet Financial Inc grew its position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 35.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,133 shares of the company’s stock after purchasing an additional 84,013 shares during the quarter. AdvisorNet Financial Inc’s holdings in Ares Dynamic Credit Allocation Fund were worth $4,490,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Shaker Financial Services LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 100.4% in the second quarter. Shaker Financial Services LLC now owns 106,790 shares of the company’s stock worth $1,519,000 after buying an additional 53,492 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 247.3% during the second quarter. Wolverine Asset Management LLC now owns 67,150 shares of the company’s stock worth $955,000 after buying an additional 47,813 shares during the period. GoalVest Advisory LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the second quarter worth about $100,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter valued at about $2,165,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 10.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 137,190 shares of the company’s stock valued at $1,951,000 after acquiring an additional 12,556 shares during the period.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of ARDC stock opened at $13.29 on Friday. The firm’s 50 day moving average price is $13.55 and its 200-day moving average price is $14.07. Ares Dynamic Credit Allocation Fund, Inc. has a one year low of $11.52 and a one year high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.1125 per share. The ex-dividend date is Monday, December 22nd. This represents a c) dividend on an annualized basis and a yield of 10.2%.

Ares Dynamic Credit Allocation Fund Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.