Sanctuary Advisors LLC Lowers Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Sanctuary Advisors LLC trimmed its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 58.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,818 shares of the company’s stock after selling 14,966 shares during the period. Sanctuary Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 20.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock valued at $6,087,000 after purchasing an additional 67,550 shares during the last quarter. 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 valued at $4,894,000 after buying an additional 32,100 shares during the last quarter. United Advisor Group LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 0.9% during the 3rd quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock valued at $4,738,000 after buying an additional 2,665 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Ares Dynamic Credit Allocation Fund in the 3rd quarter worth approximately $1,838,000. Finally, Cornerstone Advisors LLC bought a new stake in Ares Dynamic Credit Allocation Fund in the 3rd quarter worth approximately $261,000.

Ares Dynamic Credit Allocation Fund Trading Up 0.6 %

NYSE ARDC opened at $15.14 on Tuesday. The stock has a 50 day moving average price of $15.16 and a 200-day moving average price of $15.13. Ares Dynamic Credit Allocation Fund, Inc. has a one year low of $13.36 and a one year high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

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 paid a $0.1175 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.31%.

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.