Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCFree Report) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,578 shares of the company’s stock after selling 6,616 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARDC. Money Concepts Capital Corp bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at approximately $52,000. Envestnet Asset Management Inc. acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the third quarter valued at $126,000. Mariner LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter valued at $127,000. Virtu Financial LLC bought a new stake in Ares Dynamic Credit Allocation Fund in the second quarter valued at $143,000. Finally, Cetera Advisor Networks LLC bought a new stake in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at $189,000.

Ares Dynamic Credit Allocation Fund Trading Up 1.5 %

Shares of NYSE:ARDC opened at $13.71 on Wednesday. The business’s fifty day moving average price is $13.41 and its two-hundred day moving average price is $12.91. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $14.03.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Monday, January 22nd were paid a $0.1175 dividend. The ex-dividend date was Friday, January 19th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 10.28%.

About Ares Dynamic Credit Allocation Fund

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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.

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Institutional Ownership by Quarter for Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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