Foundations Investment Advisors LLC Grows Position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Foundations Investment Advisors LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 394,525 shares of the company’s stock after purchasing an additional 74,226 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $5,961,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Secure Asset Management LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 46.6% in the 4th quarter. Secure Asset Management LLC now owns 187,935 shares of the company’s stock worth $2,840,000 after purchasing an additional 59,702 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 98.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock valued at $323,000 after acquiring an additional 10,589 shares during the last quarter. Worth Asset Management LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 32.7% during the 4th quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock valued at $226,000 after acquiring an additional 3,682 shares during the period. Cornerstone Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at about $261,000. Finally, Advisors Asset Management Inc. grew its position in Ares Dynamic Credit Allocation Fund by 20.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock worth $6,087,000 after acquiring an additional 67,550 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Trading Down 0.1 %

Shares of ARDC stock opened at $15.11 on Tuesday. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $13.36 and a fifty-two week high of $15.62. The stock has a 50 day moving average price of $15.21 and a two-hundred day moving average price of $15.17.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be paid a $0.1175 dividend. This represents a $1.41 annualized dividend and a dividend yield of 9.33%. The ex-dividend date is Tuesday, January 21st.

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.