Janney Montgomery Scott LLC Has $323,000 Stock Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Janney Montgomery Scott LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 98.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,367 shares of the company’s stock after acquiring an additional 10,589 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at $357,000. Foundations Investment Advisors LLC grew its stake in Ares Dynamic Credit Allocation Fund by 11.1% in the third quarter. Foundations Investment Advisors LLC now owns 320,299 shares of the company’s stock valued at $4,894,000 after purchasing an additional 32,100 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the third quarter valued at about $1,838,000. United Advisor Group LLC increased its position in Ares Dynamic Credit Allocation Fund by 0.9% in the 3rd quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock worth $4,738,000 after purchasing an additional 2,665 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake 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 worth $6,087,000 after purchasing an additional 67,550 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE ARDC opened at $15.61 on Wednesday. The business has a 50 day simple moving average of $15.22 and a 200 day simple moving average of $15.20. Ares Dynamic Credit Allocation Fund, Inc. has a 52 week low of $13.45 and a 52 week high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st were given a $0.1175 dividend. This represents a $1.41 annualized dividend and a yield of 9.03%. The ex-dividend date of this dividend was Tuesday, January 21st.

Ares Dynamic Credit Allocation Fund Company 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.