Wolverine Asset Management LLC Has $175,000 Holdings in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Wolverine Asset Management LLC lowered its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 81.5% in the third quarter, Holdings Channel reports. The firm owned 12,424 shares of the company’s stock after selling 54,726 shares during the period. Wolverine Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AdvisorNet Financial Inc boosted its stake in Ares Dynamic Credit Allocation Fund by 35.7% in 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 last quarter. Shaker Financial Services LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 100.4% during the second 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 during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth approximately $434,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 10.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 264,787 shares of the company’s stock valued at $3,726,000 after buying an additional 25,683 shares during the period. Finally, Invesco Ltd. grew its position in Ares Dynamic Credit Allocation Fund by 8.6% during the second quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock worth $4,236,000 after buying an additional 23,540 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Stock Performance

NYSE ARDC opened at $13.58 on Monday. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $15.62. The business has a fifty day moving average price of $13.48 and a two-hundred day moving average price of $13.96.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, January 20th will be paid a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Tuesday, January 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.