Secure Asset Management LLC Cuts Position in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Secure Asset Management LLC lessened its position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 86.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,050 shares of the company’s stock after selling 121,967 shares during the quarter. Secure Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its holdings in Ares Dynamic Credit Allocation Fund by 52.0% during the 4th quarter. AdvisorNet Financial Inc now owns 485,021 shares of the company’s stock valued at $6,451,000 after buying an additional 165,888 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Ares Dynamic Credit Allocation Fund by 12.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after buying an additional 46,322 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 370,332 shares of the company’s stock worth $5,211,000 after buying an additional 17,734 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 9.5% in the 3rd quarter. Invesco Ltd. now owns 326,194 shares of the company’s stock worth $4,590,000 after buying an additional 28,337 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 10.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 264,787 shares of the company’s stock worth $3,726,000 after buying an additional 25,683 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE:ARDC opened at $12.16 on Wednesday. Ares Dynamic Credit Allocation Fund, Inc. has a 52 week low of $11.60 and a 52 week high of $15.03. The firm has a fifty day simple moving average of $12.66 and a two-hundred day simple moving average of $13.26.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th were paid a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend was Friday, March 20th.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.