Foundations Investment Advisors LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Free Report) by 16.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 429,434 shares of the company’s stock after purchasing an additional 59,102 shares during the period. Foundations Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $5,711,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Ares Dynamic Credit Allocation Fund by 60.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after purchasing an additional 957 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the fourth quarter worth approximately $112,000. Anfield Capital Management LLC boosted its position in Ares Dynamic Credit Allocation Fund by 54.8% during the fourth quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock worth $168,000 after purchasing an additional 4,462 shares in the last quarter. World Investment Advisors purchased a new position in Ares Dynamic Credit Allocation Fund during the fourth quarter worth approximately $251,000. Finally, Cedar Wealth Management LLC boosted its position in Ares Dynamic Credit Allocation Fund by 3.8% during the third quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock worth $294,000 after purchasing an additional 761 shares in the last quarter.
Ares Dynamic Credit Allocation Fund Trading Up 0.0%
Shares of ARDC stock opened at $12.76 on Friday. The business’s 50 day moving average is $12.44 and its two-hundred day moving average is $12.97. Ares Dynamic Credit Allocation Fund, Inc. has a 12-month low of $11.60 and a 12-month high of $15.03.
Ares Dynamic Credit Allocation Fund Dividend Announcement
Ares Dynamic Credit Allocation Fund Profile
Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.
The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.
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