Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 237,441 shares of the company’s stock after selling 4,242 shares during the quarter. Capital Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,628,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new stake in Ares Dynamic Credit Allocation Fund in the second quarter valued at about $150,000. Worth Asset Management LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at approximately $172,000. 9258 Wealth Management LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter valued at approximately $176,000. Tyche Wealth Partners LLC bought a new position in Ares Dynamic Credit Allocation Fund during the second quarter worth $344,000. Finally, Sanctuary Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the second quarter worth $357,000.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE:ARDC opened at $15.23 on Friday. The company’s fifty day moving average is $15.27 and its two-hundred day moving average is $14.81. Ares Dynamic Credit Allocation Fund, Inc. has a 1-year low of $11.83 and a 1-year high of $15.49.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be paid a dividend of $0.1175 per share. The ex-dividend date is Monday, October 21st. This represents a $1.41 annualized dividend and a yield of 9.26%.

Ares Dynamic Credit Allocation Fund Company 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.