B. Riley Wealth Advisors Inc. Makes New $150,000 Investment in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

B. Riley Wealth Advisors Inc. acquired a new stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,072 shares of the company’s stock, valued at approximately $150,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ARDC. 9258 Wealth Management LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the first quarter valued at approximately $176,000. Advisors Asset Management Inc. increased its stake in Ares Dynamic Credit Allocation Fund by 9.2% in the 1st 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. Curated Wealth Partners LLC increased its stake in Ares Dynamic Credit Allocation Fund by 200.8% in the 2nd quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock valued at $1,285,000 after buying an additional 171,963 shares during the period. Tyche Wealth Partners LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $344,000. Finally, Secure Asset Management LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter worth $2,172,000.

Ares Dynamic Credit Allocation Fund Stock Down 0.6 %

Shares of NYSE:ARDC opened at $15.24 on Friday. The firm’s 50-day simple moving average is $15.22 and its 200-day simple moving average is $14.75. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.83 and a fifty-two week high of $15.49.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a $0.1175 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.25%.

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.