Ares Dynamic Credit Allocation Fund, Inc. $ARDC Shares Bought by Shaker Financial Services LLC

Shaker Financial Services LLC grew its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 100.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 106,790 shares of the company’s stock after acquiring an additional 53,492 shares during the quarter. Shaker Financial Services LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC increased its position in Ares Dynamic Credit Allocation Fund by 3.6% in the 1st quarter. Foundations Investment Advisors LLC now owns 408,667 shares of the company’s stock valued at $5,717,000 after acquiring an additional 14,142 shares during the period. AdvisorNet Financial Inc grew its stake in shares of Ares Dynamic Credit Allocation Fund by 38.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 235,120 shares of the company’s stock valued at $3,343,000 after purchasing an additional 65,840 shares during the last quarter. Huntleigh Advisors Inc. increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 0.6% in the second quarter. Huntleigh Advisors Inc. now owns 200,898 shares of the company’s stock valued at $2,857,000 after purchasing an additional 1,285 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter worth approximately $2,165,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 10.1% during the second quarter. Farther Finance Advisors LLC now owns 137,190 shares of the company’s stock worth $1,951,000 after purchasing an additional 12,556 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Trading Up 0.8%

NYSE:ARDC opened at $13.63 on Monday. The firm’s fifty day moving average price is $14.13 and its 200 day moving average price is $14.14. Ares Dynamic Credit Allocation Fund, Inc. has a 1-year low of $11.52 and a 1-year high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 20th were issued a $0.1125 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a c) annualized dividend and a dividend yield of 9.9%.

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.