Cedar Wealth Management LLC Lowers Stock Position in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Cedar Wealth Management LLC trimmed its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 19.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,166 shares of the company’s stock after selling 4,961 shares during the period. Cedar Wealth Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $287,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. AdvisorNet Financial Inc raised its position in Ares Dynamic Credit Allocation Fund by 38.9% in the second quarter. AdvisorNet Financial Inc now owns 235,120 shares of the company’s stock worth $3,343,000 after acquiring an additional 65,840 shares in the last quarter. Shaker Financial Services LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter worth $753,000. Wolverine Asset Management LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter worth $273,000. Foundations Investment Advisors LLC increased its holdings in shares of 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 purchasing an additional 14,142 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the 1st quarter valued at about $2,165,000.

Ares Dynamic Credit Allocation Fund Price Performance

ARDC stock opened at $13.91 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 52 week low of $11.52 and a 52 week high of $15.62. The company’s 50-day moving average price is $13.98 and its 200 day moving average price is $14.16.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.1125 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a c) annualized dividend and a dividend yield of 9.7%.

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.