Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Acquired by United Advisor Group LLC

United Advisor Group LLC increased its position in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,844 shares of the company’s stock after acquiring an additional 9,361 shares during the period. Ares Dynamic Credit Allocation Fund makes up about 1.0% of United Advisor Group LLC’s investment portfolio, making the stock its 24th biggest position. United Advisor Group LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $4,672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wells Fargo & Company MN grew its holdings in Ares Dynamic Credit Allocation Fund by 5.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,664,519 shares of the company’s stock valued at $25,151,000 after buying an additional 91,365 shares during the last quarter. Guggenheim Capital LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 0.6% during the 4th quarter. Guggenheim Capital LLC now owns 514,583 shares of the company’s stock valued at $7,775,000 after buying an additional 3,305 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 2.9% during the fourth quarter. Advisors Asset Management Inc. now owns 409,946 shares of the company’s stock worth $6,194,000 after buying an additional 11,567 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 5.4% during the fourth quarter. Invesco Ltd. now owns 287,872 shares of the company’s stock worth $4,350,000 after buying an additional 14,732 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 26.6% during the fourth quarter. Stifel Financial Corp now owns 257,516 shares of the company’s stock worth $3,891,000 after buying an additional 54,135 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Trading Up 0.2%

Shares of NYSE ARDC opened at $14.29 on Thursday. Ares Dynamic Credit Allocation Fund, Inc. has a 12 month low of $11.52 and a 12 month high of $15.62. The company has a 50-day simple moving average of $13.83 and a 200-day simple moving average of $14.47.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 9.45%. The ex-dividend date of this dividend is Friday, June 20th.

About Ares Dynamic Credit Allocation Fund

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.