Cedar Wealth Management LLC Makes New $355,000 Investment in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Cedar Wealth Management LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) in the first quarter, according to its most recent filing with the SEC. The firm purchased 25,127 shares of the company’s stock, valued at approximately $355,000.

A number of other large investors have also recently bought and sold shares of ARDC. CoreCap Advisors LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 25.0% during the 4th quarter. CoreCap Advisors LLC now owns 3,749 shares of the company’s stock worth $57,000 after purchasing an additional 749 shares in the last quarter. Waverly Advisors LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter worth about $188,000. Cetera Investment Advisers boosted its position in shares of Ares Dynamic Credit Allocation Fund by 21.7% during the 4th quarter. Cetera Investment Advisers now owns 16,733 shares of the company’s stock worth $253,000 after purchasing an additional 2,982 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 6.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,767 shares of the company’s stock worth $321,000 after purchasing an additional 1,400 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 19.1% during the 4th quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock worth $354,000 after purchasing an additional 3,758 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Price Performance

ARDC stock opened at $14.31 on Friday. The company’s 50-day moving average is $14.24 and its 200-day moving average is $14.26. Ares Dynamic Credit Allocation Fund, Inc. has a 1 year low of $11.52 and a 1 year high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were given a $0.1125 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a c) annualized dividend and a yield of 9.4%.

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.