Secure Asset Management LLC Has $2.84 Million Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Secure Asset Management LLC increased its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 46.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 187,935 shares of the company’s stock after buying an additional 59,702 shares during the period. Secure Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after purchasing an additional 10,589 shares in the last quarter. Worth Asset Management LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 32.7% in the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock worth $226,000 after purchasing an additional 3,682 shares in the last quarter. Cornerstone Advisors LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the third quarter worth approximately $261,000. Advisors Asset Management Inc. increased its stake in shares of Ares Dynamic Credit Allocation Fund by 20.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock valued at $6,087,000 after buying an additional 67,550 shares during the period. Finally, United Advisor Group LLC raised its holdings in Ares Dynamic Credit Allocation Fund by 0.9% during the 3rd quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock worth $4,738,000 after purchasing an additional 2,665 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 0.2 %

ARDC opened at $15.19 on Friday. The company has a fifty day moving average price of $15.21 and a two-hundred day moving average price of $15.17. Ares Dynamic Credit Allocation Fund, Inc. has a 52 week low of $13.36 and a 52 week high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be paid a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date is Tuesday, January 21st.

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.