Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,797 shares of the company’s stock after selling 9,054 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,710,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new stake in Ares Dynamic Credit Allocation Fund in the second quarter worth about $150,000. Worth Asset Management LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter worth approximately $172,000. 9258 Wealth Management LLC bought a new stake in Ares Dynamic Credit Allocation Fund during the first quarter worth approximately $176,000. Foundations Investment Advisors LLC grew its position in Ares Dynamic Credit Allocation Fund by 7.4% in the second quarter. Foundations Investment Advisors LLC now owns 288,199 shares of the company’s stock worth $4,291,000 after buying an additional 19,735 shares during the last quarter. Finally, Tyche Wealth Partners LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter valued at $344,000.

Ares Dynamic Credit Allocation Fund Price Performance

ARDC opened at $15.00 on Friday. The business has a fifty day simple moving average of $15.25 and a 200-day simple moving average of $14.83. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.83 and a fifty-two week high of $15.49.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be given a $0.1175 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.40%.

About Ares Dynamic Credit Allocation Fund

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.