Foundations Investment Advisors LLC Purchases 32,100 Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Foundations Investment Advisors LLC raised its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320,299 shares of the company’s stock after purchasing an additional 32,100 shares during the period. Foundations Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $4,894,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new position in Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at $150,000. Worth Asset Management LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 3rd quarter worth $172,000. 9258 Wealth Management LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 1st quarter worth $176,000. Tyche Wealth Partners LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $344,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $357,000.

Ares Dynamic Credit Allocation Fund Stock Down 0.3 %

NYSE ARDC opened at $15.00 on Wednesday. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $11.83 and a 52-week high of $15.49. The company has a fifty day moving average of $15.27 and a 200-day moving average of $14.82.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.40%. The ex-dividend date is Monday, October 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.