Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 12.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 284,026 shares of the company’s stock after selling 42,104 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $4,042,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. UBS Group AG raised its position in shares of Ares Dynamic Credit Allocation Fund by 0.5% during the 3rd quarter. UBS Group AG now owns 201,595 shares of the company’s stock valued at $2,601,000 after buying an additional 916 shares during the period. Capital Investment Advisors LLC increased its stake in Ares Dynamic Credit Allocation Fund by 0.8% during the fourth quarter. Capital Investment Advisors LLC now owns 259,453 shares of the company’s stock worth $3,567,000 after acquiring an additional 2,129 shares during the last quarter. Spire Wealth Management raised its position in Ares Dynamic Credit Allocation Fund by 85.7% in the fourth quarter. Spire Wealth Management now owns 6,500 shares of the company’s stock valued at $89,000 after purchasing an additional 3,000 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 22.1% in the 3rd quarter. Lazard Asset Management LLC now owns 53,449 shares of the company’s stock valued at $689,000 after purchasing an additional 9,658 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 6.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 293,508 shares of the company’s stock worth $3,786,000 after purchasing an additional 18,521 shares during the period.

Insider Activity

In related news, Director John Joseph Shaw sold 15,876 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $14.09, for a total transaction of $223,692.84. Following the completion of the transaction, the director now owns 14,124 shares of the company’s stock, valued at approximately $199,007.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE:ARDC opened at $14.89 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 12-month low of $11.83 and a 12-month high of $14.96. The business has a 50-day moving average price of $14.42 and a 200 day moving average price of $13.99.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 21st were given a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date was Friday, June 21st.

About Ares Dynamic Credit Allocation Fund

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.