Secure Asset Management LLC Trims Position in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Secure Asset Management LLC cut its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 86.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,050 shares of the company’s stock after selling 121,967 shares during the period. Secure Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Wealth Management LLC increased its stake 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 purchasing an additional 761 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 33.6% during the third quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock worth $64,000 after purchasing an additional 1,136 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in shares of Ares Dynamic Credit Allocation Fund by 2.6% during the third quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after purchasing an additional 1,361 shares in the last quarter. Curated Wealth Partners LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 2.6% during the fourth quarter. Curated Wealth Partners LLC now owns 87,908 shares of the company’s stock worth $1,169,000 after purchasing an additional 2,269 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Ares Dynamic Credit Allocation Fund by 5.8% during the third quarter. Raymond James Financial Inc. now owns 50,535 shares of the company’s stock worth $711,000 after purchasing an additional 2,781 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Trading Up 1.2%

NYSE:ARDC opened at $12.16 on Wednesday. Ares Dynamic Credit Allocation Fund, Inc. has a 12-month low of $11.60 and a 12-month high of $15.03. The stock has a 50-day moving average price of $12.66 and a 200 day moving average price of $13.26.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 20th were paid a dividend of $0.1125 per share. This represents a c) annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend was Friday, March 20th.

Ares Dynamic Credit Allocation Fund 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.