Capital Investment Advisors LLC Has $2.06 Million Position in Ares Dynamic Credit Allocation Fund Inc (ARDC)

Capital Investment Advisors LLC increased its holdings in Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,453 shares of the company’s stock after purchasing an additional 5,569 shares during the quarter. Capital Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARDC. Great Lakes Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at about $165,000. NINE MASTS CAPITAL Ltd raised its position in shares of Ares Dynamic Credit Allocation Fund by 155.1% in the 3rd quarter. NINE MASTS CAPITAL Ltd now owns 98,200 shares of the company’s stock valued at $1,525,000 after acquiring an additional 59,700 shares during the period. Sit Investment Associates Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at approximately $276,000. 6 Meridian acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at approximately $341,000. Finally, Joel Isaacson & Co. LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at approximately $458,000.

ARDC stock traded up $0.03 during mid-day trading on Friday, hitting $15.27. 67,817 shares of the company were exchanged, compared to its average volume of 91,680. Ares Dynamic Credit Allocation Fund Inc has a 1-year low of $13.07 and a 1-year high of $16.73.

The business also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.1075 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.29 annualized dividend and a yield of 8.45%.

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Ares Dynamic Credit Allocation Fund Company Profile

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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