Ares Dynamic Credit Allocation Fund, Inc. $ARDC Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 12.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 420,778 shares of the company’s stock after buying an additional 46,322 shares during the period. Advisors Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $5,920,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AdvisorNet Financial Inc raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 35.7% during the third quarter. AdvisorNet Financial Inc now owns 319,133 shares of the company’s stock valued at $4,490,000 after acquiring an additional 84,013 shares during the period. United Advisor Group LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 1.6% during the second quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock worth $4,782,000 after acquiring an additional 5,435 shares in the last quarter. Shaker Financial Services LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 100.4% during the 2nd quarter. Shaker Financial Services LLC now owns 106,790 shares of the company’s stock worth $1,519,000 after purchasing an additional 53,492 shares in the last quarter. GoalVest Advisory LLC bought a new position in Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $100,000. Finally, Wolverine Asset Management LLC lifted its stake 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 during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Down 0.5%

Shares of NYSE:ARDC opened at $13.27 on Friday. The business has a 50-day moving average of $13.40 and a two-hundred day moving average of $13.85. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $15.42.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Friday, February 20th.

Ares Dynamic Credit Allocation Fund Company 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.