Worth Asset Management LLC Invests $172,000 in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Worth Asset Management LLC purchased a new position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,260 shares of the company’s stock, valued at approximately $172,000.

A number of other large investors have also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new stake in Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $150,000. 9258 Wealth Management LLC bought a new stake in Ares Dynamic Credit Allocation Fund during the first quarter valued at approximately $176,000. Tyche Wealth Partners LLC bought a new stake in Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $344,000. Sanctuary Advisors LLC bought a new stake in Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $357,000. Finally, Curated Wealth Partners LLC grew its position in Ares Dynamic Credit Allocation Fund by 200.8% during the second quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock valued at $1,285,000 after buying an additional 171,963 shares during the period.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of NYSE ARDC opened at $15.32 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 12-month low of $11.83 and a 12-month high of $15.49. The firm has a 50 day moving average of $15.22 and a 200 day moving average of $14.76.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a yield of 9.20%. The ex-dividend date of this dividend was Friday, September 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.