Ares Dynamic Credit Allocation Fund, Inc. $ARDC Stock Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC lessened its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 36.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 92,143 shares of the company’s stock after selling 53,564 shares during the quarter. Curated Wealth Partners LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,060,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ARDC. AdvisorNet Financial Inc increased its stake in Ares Dynamic Credit Allocation Fund by 3.7% in the first quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock valued at $6,116,000 after purchasing an additional 17,969 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter worth $3,975,000. NewEdge Wealth LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 5.4% during the 1st quarter. NewEdge Wealth LLC now owns 257,244 shares of the company’s stock worth $3,128,000 after buying an additional 13,260 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 26.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 199,121 shares of the company’s stock worth $2,290,000 after buying an additional 41,869 shares during the period. Finally, Shaker Financial Services LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 89.4% in the 3rd quarter. Shaker Financial Services LLC now owns 196,145 shares of the company’s stock worth $2,256,000 after buying an additional 92,604 shares during the period.

Insider Activity at Ares Dynamic Credit Allocation Fund

In other news, major shareholder Financial For Luthera Thrivent acquired 240,000 shares of Ares Dynamic Credit Allocation Fund stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of $25.00 per share, with a total value of $6,000,000.00. Following the purchase, the insider directly owned 240,000 shares of the company’s stock, valued at approximately $6,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ares Dynamic Credit Allocation Fund Price Performance

Ares Dynamic Credit Allocation Fund stock traded up $0.03 during midday trading on Thursday, reaching $11.30. The stock had a trading volume of 61,674 shares, compared to its average volume of 116,950. The stock’s 50-day simple moving average is $12.01 and its 200 day simple moving average is $12.36. Ares Dynamic Credit Allocation Fund, Inc. has a twelve month low of $11.21 and a twelve month high of $13.99.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 19th will be issued a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Monday, October 19th.

Ares Dynamic Credit Allocation Fund Profile

Ares Dynamic Credit Allocation Fund is a diversified, closed-end management investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a broad range of credit-related assets.

Its portfolio may include senior secured loans, high-yield bonds, investment-grade debt, structured credit investments and other fixed-income securities. By allocating across different credit sectors, the fund is designed to pursue income opportunities while managing exposure to changing economic and market conditions.

Ares Dynamic Credit Allocation Fund is advised by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.