Secure Asset Management LLC Acquires 59,702 Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Secure Asset Management LLC boosted its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 46.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,935 shares of the company’s stock after purchasing an additional 59,702 shares during the quarter. Secure Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,840,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter valued at about $150,000. Worth Asset Management LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at approximately $172,000. Cornerstone Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter worth $261,000. Janney Montgomery Scott LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the fourth 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 period. Finally, Sanctuary Advisors LLC acquired a new stake in Ares Dynamic Credit Allocation Fund in the second quarter valued at $357,000.

Ares Dynamic Credit Allocation Fund Stock Up 0.2 %

Shares of Ares Dynamic Credit Allocation Fund stock opened at $15.19 on Friday. The firm’s fifty day simple moving average is $15.21 and its 200-day simple moving average is $15.17. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $13.36 and a 12 month high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.1175 per share. The ex-dividend date is Tuesday, January 21st. This represents a $1.41 annualized dividend and a dividend yield of 9.28%.

Ares Dynamic Credit Allocation Fund 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.