NewEdge Wealth LLC purchased a new position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 249,723 shares of the company’s stock, valued at approximately $3,154,000.
Other hedge funds also recently bought and sold shares of the company. Icon Advisers Inc. Co. purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 1st quarter valued at approximately $1,182,000. Foundations Investment Advisors LLC raised its stake in Ares Dynamic Credit Allocation Fund by 16.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock valued at $5,711,000 after purchasing an additional 59,102 shares during the period. Wolverine Asset Management LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 720.3% in the fourth quarter. Wolverine Asset Management LLC now owns 101,914 shares of the company’s stock valued at $1,355,000 after purchasing an additional 89,490 shares in the last quarter. Sit Investment Associates Inc. acquired a new position in Ares Dynamic Credit Allocation Fund during the fourth quarter valued at $3,975,000. Finally, Waverly Advisors LLC raised its position in Ares Dynamic Credit Allocation Fund by 32.4% during the first quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock valued at $207,000 after buying an additional 4,178 shares during the period.
Ares Dynamic Credit Allocation Fund Trading Up 0.2%
Shares of ARDC opened at $12.45 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.60 and a fifty-two week high of $15.03. The business’s 50-day moving average is $12.55 and its 200-day moving average is $12.58.
Ares Dynamic Credit Allocation Fund Dividend Announcement
About Ares Dynamic Credit Allocation Fund
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.
Featured Articles
- Five stocks we like better than Ares Dynamic Credit Allocation Fund
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Want to see what other hedge funds are holding ARDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Free Report).
Receive News & Ratings for Ares Dynamic Credit Allocation Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Dynamic Credit Allocation Fund and related companies with MarketBeat.com's FREE daily email newsletter.
