Stifel Financial Corp Decreases Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Stifel Financial Corp decreased its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 32.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 203,381 shares of the company’s stock after selling 97,610 shares during the quarter. Stifel Financial Corp’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,108,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ARDC. United Advisor Group LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 0.9% during the third quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock worth $4,738,000 after buying an additional 2,665 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth about $150,000. Worth Asset Management LLC bought a new position in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at about $172,000. Cornerstone Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the 3rd quarter worth about $261,000. Finally, Foundations Investment Advisors LLC lifted its stake in Ares Dynamic Credit Allocation Fund by 7.4% in the second quarter. Foundations Investment Advisors LLC now owns 288,199 shares of the company’s stock worth $4,291,000 after purchasing an additional 19,735 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Down 0.5 %

ARDC opened at $15.26 on Wednesday. The stock’s 50 day moving average price is $15.19 and its 200-day moving average price is $15.11. Ares Dynamic Credit Allocation Fund, Inc. has a one year low of $13.24 and a one year high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.1175 dividend. This represents a $1.41 annualized dividend and a yield of 9.24%. The ex-dividend date of this dividend is Friday, December 20th.

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.