Janney Montgomery Scott LLC Buys 1,400 Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Janney Montgomery Scott LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,767 shares of the company’s stock after buying an additional 1,400 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Ares Dynamic Credit Allocation Fund during the fourth quarter worth about $1,066,000. Advisors Asset Management Inc. lifted 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 valued at $6,194,000 after purchasing an additional 11,567 shares during the last quarter. LPL Financial LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 19.1% in the 4th quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock worth $354,000 after purchasing an additional 3,758 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Ares Dynamic Credit Allocation Fund by 5.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,664,519 shares of the company’s stock worth $25,151,000 after purchasing an additional 91,365 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 5.4% in the 4th quarter. Invesco Ltd. now owns 287,872 shares of the company’s stock worth $4,350,000 after buying an additional 14,732 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 0.1%

ARDC stock opened at $14.36 on Friday. The business has a 50 day moving average of $14.08 and a 200 day moving average of $14.37. Ares Dynamic Credit Allocation Fund, Inc. has a twelve month low of $11.52 and a twelve month high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.1125 per share. The ex-dividend date was Friday, June 20th. This represents a $1.35 annualized dividend and a dividend yield of 9.40%.

Ares Dynamic Credit Allocation Fund Company 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.