84,067 Shares in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC acquired a new position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 84,067 shares of the company’s stock, valued at approximately $1,156,000.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in Ares Dynamic Credit Allocation Fund by 6.8% during the first quarter. NewEdge Advisors LLC now owns 23,559 shares of the company’s stock valued at $341,000 after acquiring an additional 1,500 shares during the last quarter. Rivernorth Capital Management LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter valued at about $252,000. Goldman Sachs Group Inc. purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter valued at about $212,000. Saba Capital Management L.P. acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the first quarter valued at about $542,000. Finally, Royal Bank of Canada increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 87.1% during the first quarter. Royal Bank of Canada now owns 16,690 shares of the company’s stock valued at $241,000 after acquiring an additional 7,769 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Stock Performance

ARDC opened at $13.82 on Tuesday. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $11.56 and a 52-week high of $14.30. The firm’s 50-day moving average price is $13.93 and its 200-day moving average price is $13.32.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.1175 per share. The ex-dividend date is Friday, April 19th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 10.20%.

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.