Nations Financial Group Inc. IA ADV Sells 1,458 Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Nations Financial Group Inc. IA ADV cut its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,718 shares of the company’s stock after selling 1,458 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARDC. Advisors Asset Management Inc. boosted its position in shares of Ares Dynamic Credit Allocation Fund by 9.2% during the first quarter. Advisors Asset Management Inc. now owns 293,009 shares of the company’s stock worth $4,170,000 after acquiring an additional 24,761 shares during the last quarter. Curated Wealth Partners LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 200.8% during the second quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock valued at $1,285,000 after purchasing an additional 171,963 shares in the last quarter. Tyche Wealth Partners LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth about $344,000. Secure Asset Management LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth about $2,172,000. Finally, Foundations Investment Advisors LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 7.4% during the second quarter. Foundations Investment Advisors LLC now owns 288,199 shares of the company’s stock valued at $4,291,000 after buying an additional 19,735 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Performance

NYSE ARDC opened at $14.96 on Wednesday. Ares Dynamic Credit Allocation Fund, Inc. has a 1-year low of $12.52 and a 1-year high of $15.49. The business has a 50 day simple moving average of $15.18 and a two-hundred day simple moving average of $14.94.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be given a $0.1175 dividend. This represents a $1.41 annualized dividend and a yield of 9.43%. The ex-dividend date is Thursday, November 21st.

Ares Dynamic Credit Allocation Fund Company 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.