Axim Planning & Wealth Makes New $167,000 Investment in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Axim Planning & Wealth purchased a new position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,755 shares of the company’s stock, valued at approximately $167,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Landscape Capital Management L.L.C. acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the first quarter worth approximately $2,165,000. Readystate Asset Management LP acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the first quarter worth approximately $1,023,000. AdvisorNet Financial Inc raised its position in shares of Ares Dynamic Credit Allocation Fund by 38.9% during the second quarter. AdvisorNet Financial Inc now owns 235,120 shares of the company’s stock worth $3,343,000 after purchasing an additional 65,840 shares during the period. Shaker Financial Services LLC raised its position 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. Finally, Wolverine Asset Management LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 247.3% during the second quarter. Wolverine Asset Management LLC now owns 67,150 shares of the company’s stock worth $955,000 after purchasing an additional 47,813 shares during the period.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE ARDC opened at $13.93 on Wednesday. The business has a fifty day simple moving average of $14.10 and a 200 day simple moving average of $14.15. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.52 and a 12 month high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 20th were given a $0.1125 dividend. This represents a c) dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend was Monday, October 20th.

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.