Sit Investment Associates Inc. Takes $3.98 Million Position in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Sit Investment Associates Inc. acquired a new stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 298,905 shares of the company’s stock, valued at approximately $3,975,000.

Several other large investors also recently modified their holdings of ARDC. Northwestern Mutual Wealth Management Co. grew its stake in Ares Dynamic Credit Allocation Fund by 6,060.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock worth $27,000 after buying an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 60.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after buying an additional 957 shares during the last quarter. Camelot Portfolios LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth about $112,000. Founders Financial Alliance LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $140,000. Finally, Anfield Capital Management LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 54.8% during the fourth quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock valued at $168,000 after acquiring an additional 4,462 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 0.1%

Shares of ARDC opened at $12.78 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.60 and a 12 month high of $15.03. The stock’s 50-day moving average price is $12.60 and its two-hundred day moving average price is $12.86.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a $0.1125 dividend. The ex-dividend date is Monday, June 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%.

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.