Advisors Asset Management Inc. Has $6.19 Million Stock Holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Advisors Asset Management Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 409,946 shares of the company’s stock after acquiring an additional 11,567 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $6,194,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter worth approximately $1,066,000. NewEdge Wealth LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 19.5% in the 4th quarter. NewEdge Wealth LLC now owns 106,308 shares of the company’s stock valued at $1,606,000 after purchasing an additional 17,350 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 23.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 394,525 shares of the company’s stock valued at $5,961,000 after purchasing an additional 74,226 shares during the last quarter. Secure Asset Management LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 46.6% during the 4th quarter. Secure Asset Management LLC now owns 187,935 shares of the company’s stock worth $2,840,000 after buying an additional 59,702 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position 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 buying an additional 10,589 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 0.1 %

NYSE:ARDC opened at $14.23 on Thursday. Ares Dynamic Credit Allocation Fund, Inc. has a twelve month low of $13.67 and a twelve month high of $15.62. The stock’s 50-day simple moving average is $14.95 and its 200 day simple moving average is $15.11.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be issued a dividend of $0.1125 per share. This represents a $1.35 annualized dividend and a dividend yield of 9.49%. The ex-dividend date is Friday, March 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.