Ares Dynamic Credit Allocation Fund, Inc. $ARDC Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC cut its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 13.7% in the second quarter, HoldingsChannel reports. The firm owned 352,598 shares of the company’s stock after selling 56,069 shares during the period. Foundations Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $5,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP grew its position in Ares Dynamic Credit Allocation Fund by 1,130.5% during the 1st quarter. Elequin Capital LP now owns 3,384 shares of the company’s stock worth $48,000 after purchasing an additional 3,109 shares during the period. GoalVest Advisory LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth about $100,000. Anfield Capital Management LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 35.8% during the first quarter. Anfield Capital Management LLC now owns 7,772 shares of the company’s stock worth $110,000 after acquiring an additional 2,047 shares during the period. Axim Planning & Wealth acquired a new stake in Ares Dynamic Credit Allocation Fund during the second quarter worth about $167,000. Finally, Wolverine Asset Management LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the first quarter valued at approximately $273,000.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE:ARDC opened at $13.91 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 12-month low of $11.52 and a 12-month high of $15.62. The business has a 50 day moving average of $13.98 and a two-hundred day moving average of $14.17.

Ares Dynamic Credit Allocation Fund Announces Dividend

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

About Ares Dynamic Credit Allocation Fund

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.