AdvisorNet Financial Inc Has $6.45 Million Holdings in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

AdvisorNet Financial Inc boosted its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 52.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485,021 shares of the company’s stock after buying an additional 165,888 shares during the quarter. AdvisorNet Financial Inc’s holdings in Ares Dynamic Credit Allocation Fund were worth $6,451,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in shares of Ares Dynamic Credit Allocation Fund by 12.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after acquiring an additional 46,322 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 370,332 shares of the company’s stock valued at $5,211,000 after purchasing an additional 17,734 shares during the period. Invesco Ltd. lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 9.5% in the third quarter. Invesco Ltd. now owns 326,194 shares of the company’s stock worth $4,590,000 after buying an additional 28,337 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 10.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 264,787 shares of the company’s stock worth $3,726,000 after buying an additional 25,683 shares during the period. Finally, NewEdge Wealth LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 63.2% during the 3rd quarter. NewEdge Wealth LLC now owns 216,714 shares of the company’s stock worth $3,019,000 after buying an additional 83,889 shares during the period.

Ares Dynamic Credit Allocation Fund Trading Up 0.0%

NYSE:ARDC opened at $11.99 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 1 year low of $11.52 and a 1 year high of $15.03. The firm’s fifty day simple moving average is $12.71 and its 200 day simple moving average is $13.32.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 20th were given a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 11.3%. The ex-dividend date of this dividend was Friday, March 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.