Thomas J. Herzfeld Advisors Inc. Increases Stake in Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC)

Thomas J. Herzfeld Advisors Inc. boosted its position in shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) by 27.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,732 shares of the company’s stock after buying an additional 22,862 shares during the quarter. Thomas J. Herzfeld Advisors Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ARDC. B. Riley Wealth Management Inc. bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter worth about $174,000. Matisse Capital purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the first quarter valued at approximately $243,000. Advisor Group Inc. boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 10.4% in the fourth quarter. Advisor Group Inc. now owns 76,415 shares of the company’s stock valued at $1,055,000 after buying an additional 7,204 shares in the last quarter. City of London Investment Management Co. Ltd. boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 8.5% in the fourth quarter. City of London Investment Management Co. Ltd. now owns 199,608 shares of the company’s stock valued at $2,757,000 after buying an additional 15,697 shares in the last quarter. Finally, Camelot Portfolios LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $222,000.

Shares of Ares Dynamic Credit Allocation Fund stock remained flat at $$15.23 during trading on Friday. The company had a trading volume of 8,000 shares, compared to its average volume of 88,015. Ares Dynamic Credit Allocation Fund Inc has a 12-month low of $13.07 and a 12-month high of $16.39.

The firm also recently declared a monthly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 22nd were paid a $0.1075 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.29 dividend on an annualized basis and a dividend yield of 8.47%.

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About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.

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Institutional Ownership by Quarter for Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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