Ares Dynamic Credit Allocation Fund, Inc. $ARDC Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 247.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,150 shares of the company’s stock after purchasing an additional 47,813 shares during the quarter. Wolverine Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GoalVest Advisory LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth approximately $100,000. Huntleigh Advisors Inc. increased its position in Ares Dynamic Credit Allocation Fund by 0.6% in the 2nd quarter. Huntleigh Advisors Inc. now owns 200,898 shares of the company’s stock valued at $2,857,000 after acquiring an additional 1,285 shares during the period. Janney Montgomery Scott LLC increased its position in Ares Dynamic Credit Allocation Fund by 13.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 25,786 shares of the company’s stock valued at $367,000 after acquiring an additional 3,019 shares during the period. AdvisorNet Financial Inc increased its position in Ares Dynamic Credit Allocation Fund by 38.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 235,120 shares of the company’s stock valued at $3,343,000 after acquiring an additional 65,840 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Ares Dynamic Credit Allocation Fund by 10.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 137,190 shares of the company’s stock valued at $1,951,000 after acquiring an additional 12,556 shares during the period.

Ares Dynamic Credit Allocation Fund Stock Performance

ARDC opened at $13.63 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.52 and a 12 month high of $15.62. The stock’s 50 day moving average price is $14.13 and its 200 day moving average price is $14.13.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 20th were given a $0.1125 dividend. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date was Monday, October 20th.

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.