Capital Investment Advisors LLC Cuts Stock Holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Capital Investment Advisors LLC reduced its position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,174 shares of the company’s stock after selling 9,824 shares during the period. Capital Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,939,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its holdings in Ares Dynamic Credit Allocation Fund by 25.0% in the fourth quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock valued at $57,000 after buying an additional 749 shares in the last quarter. Waverly Advisors LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at about $188,000. Cetera Investment Advisers increased its holdings in Ares Dynamic Credit Allocation Fund by 21.7% in the fourth quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock valued at $253,000 after buying an additional 2,982 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Ares Dynamic Credit Allocation Fund by 98.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock valued at $323,000 after buying an additional 10,589 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in Ares Dynamic Credit Allocation Fund by 19.1% in the fourth quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock valued at $354,000 after buying an additional 3,758 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Stock Down 0.2%

Shares of Ares Dynamic Credit Allocation Fund stock opened at $14.09 on Monday. Ares Dynamic Credit Allocation Fund, Inc. has a 12-month low of $11.52 and a 12-month high of $15.62. The company has a 50-day moving average of $13.65 and a two-hundred day moving average of $14.51.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.1125 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.35 dividend on an annualized basis and a yield of 9.58%.

Ares Dynamic Credit Allocation Fund 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.