CoreCap Advisors LLC Purchases 749 Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

CoreCap Advisors LLC grew its position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 25.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,749 shares of the company’s stock after acquiring an additional 749 shares during the period. CoreCap Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers grew its position in Ares Dynamic Credit Allocation Fund by 21.7% during the 4th quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock worth $253,000 after acquiring an additional 2,982 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Ares Dynamic Credit Allocation Fund by 98.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after acquiring an additional 10,589 shares during the last quarter. LPL Financial LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 19.1% in the 4th quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock worth $354,000 after buying an additional 3,758 shares during the period. Virtus ETF Advisers LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 16.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 47,060 shares of the company’s stock worth $711,000 after buying an additional 6,769 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $1,066,000.

Ares Dynamic Credit Allocation Fund Trading Up 0.2%

NYSE ARDC opened at $14.15 on Thursday. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $15.62. The stock has a 50 day simple moving average of $13.67 and a two-hundred day simple moving average of $14.63.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be paid a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 9.54%. The ex-dividend date is Monday, May 19th.

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.