Advisors Asset Management Inc. increased its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 52.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 583,832 shares of the company’s stock after buying an additional 200,715 shares during the period. Advisors Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $9,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARDC. Harbour Capital Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 1,535.0% in the second quarter. Harbour Capital Advisors LLC now owns 9,810 shares of the company’s stock valued at $600,000 after buying an additional 9,210 shares during the period. Ruggie Capital Group bought a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter valued at $151,000. Finally, First Trust Advisors LP increased its position in shares of Ares Dynamic Credit Allocation Fund by 15.5% in the second quarter. First Trust Advisors LP now owns 148,004 shares of the company’s stock valued at $2,420,000 after buying an additional 19,906 shares during the period.

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) opened at 16.29 on Tuesday. The firm has a 50 day moving average price of $16.35 and a 200 day moving average price of $16.10. Ares Dynamic Credit Allocation Fund, Inc. has a 52 week low of $14.18 and a 52 week high of $16.56.

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be paid a dividend of $0.105 per share. This represents a $1.26 annualized dividend and a yield of 7.73%. The ex-dividend date is Wednesday, September 20th.

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

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