Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Acquired by Worth Asset Management LLC

Worth Asset Management LLC boosted its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 32.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,942 shares of the company’s stock after purchasing an additional 3,682 shares during the period. Worth Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ARDC. B. Riley Wealth Advisors Inc. acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $150,000. Sanctuary Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the second quarter worth about $357,000. Foundations Investment Advisors LLC grew its position in Ares Dynamic Credit Allocation Fund by 11.1% during the third quarter. Foundations Investment Advisors LLC now owns 320,299 shares of the company’s stock worth $4,894,000 after buying an additional 32,100 shares during the period. Farther Finance Advisors LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the third quarter valued at about $1,838,000. Finally, United Advisor Group LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 0.9% during the 3rd quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock worth $4,738,000 after acquiring an additional 2,665 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of Ares Dynamic Credit Allocation Fund stock traded up $0.03 on Wednesday, hitting $15.23. The company’s stock had a trading volume of 47,055 shares, compared to its average volume of 63,133. The firm has a fifty day moving average price of $15.18 and a 200-day moving average price of $15.15. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $13.36 and a 52-week high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th were issued a $0.1175 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.41 dividend on an annualized basis and a yield of 9.26%.

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.