Shaker Financial Services LLC lifted its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Free Report) by 89.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 196,145 shares of the company’s stock after buying an additional 92,604 shares during the period. Shaker Financial Services LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $2,256,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 26.6% during the third quarter. Farther Finance Advisors LLC now owns 199,121 shares of the company’s stock valued at $2,290,000 after acquiring an additional 41,869 shares in the last quarter. CoreCap Advisors LLC lifted its position in 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 valued at $64,000 after acquiring an additional 1,945 shares in the last quarter. Susquehanna International Group LLP bought a new position in Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at approximately $140,000. Bank of America Corp DE bought a new position in Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at approximately $1,016,000. Finally, NewEdge Wealth LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at $3,154,000.
Insider Activity
In other Ares Dynamic Credit Allocation Fund news, major shareholder Financial For Luthera Thrivent purchased 240,000 shares of the stock in a transaction dated Monday, September 14th. The shares were purchased at an average cost of $25.00 per share, with a total value of $6,000,000.00. Following the completion of the acquisition, the insider directly owned 240,000 shares in the company, valued at $6,000,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Ares Dynamic Credit Allocation Fund Stock Performance
Ares Dynamic Credit Allocation Fund Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 19th will be issued a dividend of $0.1125 per share. 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.
Ares Dynamic Credit Allocation Fund Profile
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.
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