Sit Investment Associates Inc. Buys New Shares in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Sit Investment Associates Inc. acquired a new position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 298,905 shares of the company’s stock, valued at approximately $3,975,000.

A number of other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 6,060.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock valued at $27,000 after buying an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 60.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after buying an additional 957 shares during the last quarter. Camelot Portfolios LLC bought a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter valued at $112,000. Founders Financial Alliance LLC bought a new position in Ares Dynamic Credit Allocation Fund during the fourth quarter valued at about $140,000. Finally, Anfield Capital Management LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 54.8% during the 4th quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock valued at $168,000 after acquiring an additional 4,462 shares during the period.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE:ARDC opened at $12.78 on Friday. The business has a fifty day simple moving average of $12.60 and a two-hundred day simple moving average of $12.86. Ares Dynamic Credit Allocation Fund, Inc. has a 1 year low of $11.60 and a 1 year high of $15.03.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.1125 dividend. The ex-dividend date is Monday, June 22nd. This represents a c) annualized dividend and a dividend yield of 10.6%.

About Ares Dynamic Credit Allocation Fund

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.