E&G Advisors LP Buys 2,500 Shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC)

E&G Advisors LP raised its stake in shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) by 20.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,800 shares of the company’s stock after purchasing an additional 2,500 shares during the period. E&G Advisors LP’s holdings in Ares Dynamic Credit Allocation Fund were worth $221,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ARDC. First Trust Advisors LP raised its position in Ares Dynamic Credit Allocation Fund by 6.7% during the 1st quarter. First Trust Advisors LP now owns 296,124 shares of the company’s stock worth $4,394,000 after purchasing an additional 18,589 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. raised its position in shares of Ares Dynamic Credit Allocation Fund by 27.9% in the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 104,732 shares of the company’s stock worth $1,554,000 after acquiring an additional 22,862 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter worth about $32,000. Capital Investment Advisors LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 3.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 143,738 shares of the company’s stock worth $2,175,000 after acquiring an additional 5,285 shares in the last quarter. Finally, Robinson Capital Management LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 3.0% in the 2nd quarter. Robinson Capital Management LLC now owns 102,073 shares of the company’s stock worth $1,559,000 after acquiring an additional 3,000 shares in the last quarter.

Shares of ARDC stock traded up $0.08 during mid-day trading on Friday, hitting $14.72. The company’s stock had a trading volume of 19,047 shares, compared to its average volume of 84,065. The company’s fifty day simple moving average is $14.93 and its 200-day simple moving average is $15.07. Ares Dynamic Credit Allocation Fund Inc has a 52 week low of $13.07 and a 52 week high of $15.53.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.

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Institutional Ownership by Quarter for Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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