Foundations Investment Advisors LLC Raises Stock Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Foundations Investment Advisors LLC lifted its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 23.2% in the 4th quarter, HoldingsChannel reports. The firm owned 394,525 shares of the company’s stock after buying an additional 74,226 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $5,961,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ARDC. B. Riley Wealth Advisors Inc. bought a new position in Ares Dynamic Credit Allocation Fund in the second quarter worth $150,000. Sanctuary Advisors LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter worth about $357,000. Worth Asset Management LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter worth about $172,000. Cornerstone Advisors LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter worth about $261,000. Finally, Farther Finance Advisors LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at about $1,838,000.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE:ARDC opened at $15.11 on Tuesday. Ares Dynamic Credit Allocation Fund, Inc. has a one year low of $13.36 and a one year high of $15.62. The company’s 50-day simple moving average is $15.21 and its 200 day simple moving average is $15.17.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be given a $0.1175 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.33%.

About Ares Dynamic Credit Allocation Fund

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.