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

Sanctuary Advisors LLC trimmed its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 58.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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.

Several other institutional investors have also added to or reduced their stakes in ARDC. United Advisor Group LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 0.9% in the third quarter. United Advisor Group LLC now owns 310,099 shares of the company’s stock worth $4,738,000 after acquiring an additional 2,665 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Ares Dynamic Credit Allocation Fund in the 2nd quarter worth approximately $150,000. Worth Asset Management LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at $172,000. Cornerstone Advisors LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter worth $261,000. Finally, Foundations Investment Advisors LLC grew its holdings in shares of 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 acquiring an additional 19,735 shares during the period.

Ares Dynamic Credit Allocation Fund Trading Up 0.6 %

Shares of NYSE:ARDC opened at $15.14 on Tuesday. The firm’s 50 day moving average price is $15.16 and its 200-day moving average price is $15.13. Ares Dynamic Credit Allocation Fund, Inc. has a twelve month low of $13.36 and a twelve month high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a $0.1175 dividend. This represents a $1.41 annualized dividend and a yield of 9.31%. The ex-dividend date of this dividend is Friday, December 20th.

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.