Shaker Financial Services LLC Makes New Investment in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Shaker Financial Services LLC bought a new position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 244,497 shares of the company’s stock, valued at approximately $3,252,000. Ares Dynamic Credit Allocation Fund accounts for approximately 1.0% of Shaker Financial Services LLC’s holdings, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 35.7% in the third quarter. AdvisorNet Financial Inc now owns 319,133 shares of the company’s stock worth $4,490,000 after buying an additional 84,013 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 12.4% in the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock worth $5,920,000 after buying an additional 46,322 shares during the period. NewEdge Wealth LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 63.2% in the third quarter. NewEdge Wealth LLC now owns 216,714 shares of the company’s stock worth $3,019,000 after buying an additional 83,889 shares during the period. Curated Wealth Partners LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 2.6% in the fourth quarter. Curated Wealth Partners LLC now owns 87,908 shares of the company’s stock worth $1,169,000 after buying an additional 2,269 shares during the period. Finally, Cedar Wealth Management LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 3.8% in the third quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock worth $294,000 after buying an additional 761 shares during the period.

Ares Dynamic Credit Allocation Fund Trading Up 1.1%

Shares of ARDC opened at $12.60 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a one year low of $11.60 and a one year high of $15.03. The company has a 50-day moving average of $12.50 and a two-hundred day moving average of $13.17.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 20th will be given a $0.1125 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend is Monday, April 20th.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.