Ares Dynamic Credit Allocation Fund, Inc. $ARDC Stock: Curated Wealth Partners LLC Decreases Position

Curated Wealth Partners LLC lowered its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 36.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,143 shares of the company’s stock after selling 53,564 shares during the period. Curated Wealth Partners LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,060,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AdvisorNet Financial Inc raised its stake in shares of Ares Dynamic Credit Allocation Fund by 3.7% in the 1st quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock valued at $6,116,000 after acquiring an additional 17,969 shares during the period. Sit Investment Associates Inc. purchased a new stake in Ares Dynamic Credit Allocation Fund during the 4th quarter worth $3,975,000. NewEdge Wealth LLC boosted its position in Ares Dynamic Credit Allocation Fund by 5.4% during the 1st quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock worth $3,128,000 after purchasing an additional 13,260 shares during the period. Farther Finance Advisors LLC boosted its position in Ares Dynamic Credit Allocation Fund by 26.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 199,121 shares of the company’s stock worth $2,290,000 after purchasing an additional 41,869 shares during the period. Finally, Shaker Financial Services LLC increased its holdings in Ares Dynamic Credit Allocation Fund by 89.4% in the 3rd quarter. Shaker Financial Services LLC now owns 196,145 shares of the company’s stock valued at $2,256,000 after purchasing an additional 92,604 shares in the last quarter.

Insider Activity at Ares Dynamic Credit Allocation Fund

In other news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $6,000,000.00. Following the completion of the purchase, the insider owned 240,000 shares of the company’s stock, valued at $6,000,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ares Dynamic Credit Allocation Fund Stock Up 0.3%

NYSE ARDC traded up $0.03 during trading hours on Thursday, hitting $11.30. The company had a trading volume of 61,674 shares, compared to its average volume of 116,950. The firm’s 50 day moving average is $12.01 and its 200 day moving average is $12.36. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.21 and a fifty-two week high of $13.99.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 19th will be given a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Monday, October 19th.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund is a diversified, closed-end management investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a broad range of credit-related assets.

Its portfolio may include senior secured loans, high-yield bonds, investment-grade debt, structured credit investments and other fixed-income securities. By allocating across different credit sectors, the fund is designed to pursue income opportunities while managing exposure to changing economic and market conditions.

Ares Dynamic Credit Allocation Fund is advised by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.