Shaker Financial Services LLC lowered its position in shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) by 7.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 241,270 shares of the company’s stock after selling 19,914 shares during the quarter. Ares Dynamic Credit Allocation Fund comprises approximately 1.8% of Shaker Financial Services LLC’s holdings, making the stock its 15th largest holding. Shaker Financial Services LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,580,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $62,000. FNY Investment Advisers LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the 1st quarter worth approximately $80,000. We Are One Seven LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $76,000. B. Riley Wealth Management Inc. purchased a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter worth approximately $174,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 8.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,600 shares of the company’s stock valued at $201,000 after buying an additional 1,100 shares during the last quarter.

Shares of Ares Dynamic Credit Allocation Fund stock traded down $0.02 on Wednesday, hitting $15.08. 84,600 shares of the company’s stock traded hands, compared to its average volume of 90,610. Ares Dynamic Credit Allocation Fund Inc has a 52-week low of $13.07 and a 52-week high of $16.73.

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd will be paid a dividend of $0.1075 per share. This represents a $1.29 annualized dividend and a dividend yield of 8.55%. The ex-dividend date of this dividend is Tuesday, May 21st.

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

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