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

Capital Investment Advisors LLC lessened its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,174 shares of the company’s stock after selling 9,824 shares during the period. Capital Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. CoreCap Advisors LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 25.0% in the fourth quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock valued at $57,000 after acquiring an additional 749 shares in the last quarter. Waverly Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter worth about $188,000. Cetera Investment Advisers boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 21.7% during the fourth quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock worth $253,000 after buying an additional 2,982 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after buying an additional 10,589 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 19.1% during the fourth 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.

Ares Dynamic Credit Allocation Fund Trading Down 0.2%

Shares of ARDC opened at $14.09 on Monday. 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 firm has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $14.51.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $0.1125 per share. The ex-dividend date was Monday, May 19th. This represents a $1.35 annualized dividend and a dividend yield of 9.58%.

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.