Ares Dynamic Credit Allocation Fund, Inc. $ARDC Stock: Shaker Financial Services LLC Boosts Stake

Shaker Financial Services LLC boosted its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 89.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,145 shares of the company’s stock after purchasing an additional 92,604 shares during the quarter. Shaker Financial Services LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ARDC. Farther Finance Advisors LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 26.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 199,121 shares of the company’s stock worth $2,290,000 after buying an additional 41,869 shares during the period. CoreCap Advisors LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 54.3% in the 3rd quarter. CoreCap Advisors LLC now owns 5,529 shares of the company’s stock worth $64,000 after acquiring an additional 1,945 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $140,000. Bank of America Corp DE purchased a new position in Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $1,016,000. Finally, NewEdge Wealth LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $3,154,000.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE ARDC traded down $0.12 on Wednesday, reaching $11.23. 97,336 shares of the company’s stock traded hands, compared to its average volume of 117,010. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.21 and a 12 month high of $13.99. The business’s 50 day simple moving average is $12.04 and its two-hundred day simple moving average is $12.36.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 19th will be given a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend is Monday, October 19th.

Insider Buying and Selling at Ares Dynamic Credit Allocation Fund

In related news, major shareholder Financial For Luthera Thrivent purchased 240,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average price of $25.00 per share, for a total transaction of $6,000,000.00. Following the purchase, the insider directly owned 240,000 shares of the company’s stock, valued at approximately $6,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund is a diversified, closed-end management investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a broad range of credit-related assets.

Its portfolio may include senior secured loans, high-yield bonds, investment-grade debt, structured credit investments and other fixed-income securities. By allocating across different credit sectors, the fund is designed to pursue income opportunities while managing exposure to changing economic and market conditions.

Ares Dynamic Credit Allocation Fund is advised by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.