Worth Asset Management LLC Boosts Stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Worth Asset Management LLC increased its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 32.7% during the 4th quarter, HoldingsChannel reports. The fund owned 14,942 shares of the company’s stock after acquiring an additional 3,682 shares during the quarter. Worth Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $226,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARDC. B. Riley Wealth Advisors Inc. acquired a new stake in Ares Dynamic Credit Allocation Fund in the second quarter valued at $150,000. Sanctuary Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at about $357,000. Foundations Investment Advisors LLC lifted its position in shares of 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 purchasing an additional 32,100 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the third quarter worth about $1,838,000. Finally, United Advisor Group LLC increased its holdings in Ares Dynamic Credit Allocation Fund by 0.9% in the third quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock valued at $4,738,000 after buying an additional 2,665 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 0.2 %

Shares of NYSE:ARDC traded up $0.03 on Wednesday, reaching $15.23. 47,055 shares of the company’s stock were exchanged, compared to its average volume of 63,133. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $13.36 and a fifty-two week high of $15.62. The business’s 50-day moving average is $15.18 and its two-hundred day moving average is $15.15.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th were given a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.26%. The ex-dividend date of this dividend was Friday, December 20th.

Ares Dynamic Credit Allocation Fund Company 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.