Lazard Asset Management LLC Purchases Shares of 27,291 Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Lazard Asset Management LLC purchased a new stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCGet Rating) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 27,291 shares of the company’s stock, valued at approximately $445,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of America Corp DE grew its stake in shares of Ares Dynamic Credit Allocation Fund by 1.4% during the 4th quarter. Bank of America Corp DE now owns 124,837 shares of the company’s stock valued at $2,038,000 after buying an additional 1,709 shares during the period. GraniteShares Advisors LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $2,663,000. First Trust Advisors LP grew its stake in shares of Ares Dynamic Credit Allocation Fund by 0.9% during the 4th quarter. First Trust Advisors LP now owns 295,717 shares of the company’s stock valued at $4,829,000 after buying an additional 2,696 shares during the period. Shaker Financial Services LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at $3,083,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 72.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,863 shares of the company’s stock valued at $487,000 after buying an additional 12,566 shares during the period.

Shares of NYSE ARDC opened at $12.97 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $12.89 and a 52-week high of $16.66. The firm has a fifty day moving average of $14.09 and a 200-day moving average of $15.16.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Friday, May 20th will be paid a dividend of $0.0975 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $1.17 annualized dividend and a dividend yield of 9.02%.

In related news, Director Bruce H. Spector acquired 10,000 shares of the stock in a transaction dated Thursday, March 17th. The stock was bought at an average cost of $14.18 per share, with a total value of $141,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ares Dynamic Credit Allocation Fund Company Profile (Get Rating)

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.

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Institutional Ownership by Quarter for Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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