Laurion Capital Management LP raised its holdings in shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) by 9.0% during the second quarter, HoldingsChannel.com reports. The fund owned 233,328 shares of the company’s stock after purchasing an additional 19,296 shares during the quarter. Laurion Capital Management LP’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $1,197,000. Shaker Financial Services LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth about $435,000. First Trust Advisors LP boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 259,550 shares of the company’s stock worth $4,176,000 after purchasing an additional 40,515 shares during the period. UBS Group AG boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 3.6% during the 1st quarter. UBS Group AG now owns 870,559 shares of the company’s stock worth $14,138,000 after purchasing an additional 30,163 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 122.8% during the 1st quarter. Stifel Financial Corp now owns 136,656 shares of the company’s stock worth $2,217,000 after purchasing an additional 75,319 shares during the period.

ARDC stock opened at $15.74 on Friday. Ares Dynamic Credit Allocation Fund Inc has a 12 month low of $15.69 and a 12 month high of $16.73.

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 20th will be given a $0.1075 dividend. The ex-dividend date is Wednesday, September 19th. This represents a $1.29 annualized dividend and a yield of 8.20%.

In related news, insider Daniel J. Hall acquired 2,500 shares of the stock in a transaction on Tuesday, July 10th. The stock was bought at an average cost of $16.00 per share, with a total value of $40,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.

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Want to see what other hedge funds are holding ARDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC).

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

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