Nations Financial Group Inc. IA ADV Decreases Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Nations Financial Group Inc. IA ADV decreased its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 74,718 shares of the company’s stock after selling 1,458 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,142,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 11.1% during the third quarter. Foundations Investment Advisors LLC now owns 320,299 shares of the company’s stock worth $4,894,000 after buying an additional 32,100 shares during the period. United Advisor Group LLC lifted its stake in Ares Dynamic Credit Allocation Fund by 0.9% in the third quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock worth $4,738,000 after purchasing an additional 2,665 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Ares Dynamic Credit Allocation Fund by 9.2% during the first quarter. Advisors Asset Management Inc. now owns 293,009 shares of the company’s stock valued at $4,170,000 after buying an additional 24,761 shares during the period. Secure Asset Management LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $2,172,000. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the third quarter worth approximately $1,838,000.

Ares Dynamic Credit Allocation Fund Stock Performance

ARDC opened at $14.96 on Wednesday. The business has a fifty day moving average of $15.18 and a 200 day moving average of $14.94. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $12.52 and a 52-week high of $15.49.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be issued a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.43%. The ex-dividend date is Thursday, November 21st.

Ares Dynamic Credit Allocation Fund 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.