Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Acquired by United Advisor Group LLC

United Advisor Group LLC grew its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 3.7% during the 4th quarter, Holdings Channel reports. The firm owned 321,483 shares of the company’s stock after buying an additional 11,384 shares during the period. Ares Dynamic Credit Allocation Fund comprises approximately 1.0% of United Advisor Group LLC’s investment portfolio, making the stock its 24th biggest holding. United Advisor Group LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $4,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ARDC. CoreCap Advisors LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 25.0% in the fourth quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock valued at $57,000 after purchasing an additional 749 shares during the last quarter. Waverly Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $188,000. Cetera Investment Advisers grew its position in shares of Ares Dynamic Credit Allocation Fund by 21.7% in the fourth quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock valued at $253,000 after purchasing an additional 2,982 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 98.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock valued at $323,000 after purchasing an additional 10,589 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 19.1% in the fourth quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock valued at $354,000 after purchasing an additional 3,758 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of NYSE ARDC opened at $14.07 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 1 year low of $11.52 and a 1 year high of $15.62. The firm’s 50 day moving average price is $13.66 and its 200 day moving average price is $14.59.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $0.1125 per share. The ex-dividend date is Monday, May 19th. This represents a $1.35 dividend on an annualized basis and a yield of 9.59%.

Ares Dynamic Credit Allocation Fund 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.