Hennion & Walsh Asset Management Inc. Reduces Stock Holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Hennion & Walsh Asset Management Inc. lessened its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,751 shares of the company’s stock after selling 21,046 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,351,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Worth Asset Management LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 32.7% in the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock valued at $226,000 after purchasing an additional 3,682 shares during the period. Cornerstone Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the 3rd quarter worth $261,000. Advisors Asset Management Inc. boosted its position in Ares Dynamic Credit Allocation Fund by 20.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock valued at $6,087,000 after buying an additional 67,550 shares during the last quarter. United Advisor Group LLC boosted 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 valued at $4,738,000 after buying an additional 2,665 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the third quarter valued at about $1,838,000.

Ares Dynamic Credit Allocation Fund Trading Down 0.6 %

NYSE:ARDC opened at $15.14 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a one year low of $13.36 and a one year high of $15.62. The business’s 50-day simple moving average is $15.19 and its 200 day simple moving average is $15.17.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st will be given a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date of this dividend is Tuesday, January 21st.

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.