17,100 Shares in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,100 shares of the company’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at approximately $150,000. Worth Asset Management LLC acquired a new stake in Ares Dynamic Credit Allocation Fund in the third quarter valued at approximately $172,000. Tyche Wealth Partners LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth $344,000. Sanctuary Advisors LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth $357,000. Finally, Curated Wealth Partners LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 200.8% during the second quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock worth $1,285,000 after buying an additional 171,963 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE ARDC opened at $15.28 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a twelve month low of $12.58 and a twelve month high of $15.49. The business’s fifty day moving average is $15.15 and its 200 day moving average is $14.98.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.23%. The ex-dividend date is Thursday, November 21st.

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.