Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Stake Boosted by Curated Wealth Partners LLC

Curated Wealth Partners LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,164 shares of the company’s stock after purchasing an additional 2,525 shares during the quarter. Curated Wealth Partners LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,087,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ARDC. Money Concepts Capital Corp bought a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $52,000. Envestnet Asset Management Inc. bought a new position in Ares Dynamic Credit Allocation Fund in the 3rd quarter worth approximately $126,000. Mariner LLC bought a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $127,000. Virtu Financial LLC bought a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $180,000. Finally, Cetera Advisor Networks LLC bought a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $189,000.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC stock opened at $12.78 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 12-month low of $11.16 and a 12-month high of $13.00. The business has a 50 day simple moving average of $12.65 and a 200 day simple moving average of $12.24.

Ares Dynamic Credit Allocation Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a yield of 11.03%. This is an increase from Ares Dynamic Credit Allocation Fund’s previous monthly dividend of $0.11. The ex-dividend date is Wednesday, September 20th.

Insiders Place Their Bets

In other Ares Dynamic Credit Allocation Fund news, Director John Joseph Shaw sold 9,286 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $12.85, for a total value of $119,325.10. Following the completion of the sale, the director now directly owns 50,716 shares in the company, valued at $651,700.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Dynamic Credit Allocation Fund Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.