Wolverine Asset Management LLC Makes New $252,000 Investment in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Posted by on Apr 22nd, 2023

Wolverine Asset Management LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,714 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. LPL Financial LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 6.4% during the second quarter. LPL Financial LLC now owns 20,755 shares of the company’s stock worth $253,000 after acquiring an additional 1,256 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 6.8% during the first quarter. NewEdge Advisors LLC now owns 23,559 shares of the company’s stock worth $341,000 after acquiring an additional 1,500 shares during the last quarter. Roosevelt Investment Group LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 7.2% during the third quarter. Roosevelt Investment Group LLC now owns 32,068 shares of the company’s stock worth $377,000 after acquiring an additional 2,154 shares during the last quarter. Bank of America Corp DE increased its position in shares of Ares Dynamic Credit Allocation Fund by 3.6% during the first quarter. Bank of America Corp DE now owns 129,307 shares of the company’s stock worth $1,868,000 after acquiring an additional 4,470 shares during the last quarter. Finally, Saba Capital Management L.P. increased its position in shares of Ares Dynamic Credit Allocation Fund by 3.7% during the third quarter. Saba Capital Management L.P. now owns 133,355 shares of the company’s stock worth $1,567,000 after acquiring an additional 4,759 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Down 0.7 %

Shares of NYSE ARDC opened at $12.02 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 1 year low of $11.16 and a 1 year high of $14.29. The stock’s 50-day simple moving average is $12.20 and its 200-day simple moving average is $12.05.

Ares Dynamic Credit Allocation Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 21st will be issued a $0.1125 dividend. This is a positive change from Ares Dynamic Credit Allocation Fund’s previous monthly dividend of $0.11. This represents a $1.35 annualized dividend and a yield of 11.23%. The ex-dividend date is Thursday, April 20th.

Ares Dynamic Credit Allocation Fund Profile

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Ares Public Funds is an investment company. They provide investment activities in leveraged loans, high-yield bonds, private debt, private equity, and other types of investments. They offer alternative asset management, financial services, investment management, and direct lending.

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

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