Hennion & Walsh Asset Management Inc. Has $3.71 Million Stock Holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 3.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 242,797 shares of the company’s stock after selling 9,054 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,710,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new stake in Ares Dynamic Credit Allocation Fund in the 2nd quarter worth approximately $150,000. Worth Asset Management LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the third quarter worth $172,000. 9258 Wealth Management LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter worth $176,000. Tyche Wealth Partners LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth $344,000. Finally, Sanctuary Advisors LLC acquired a new stake in Ares Dynamic Credit Allocation Fund during the second quarter valued at $357,000.

Ares Dynamic Credit Allocation Fund Stock Up 0.3 %

Shares of ARDC stock opened at $15.00 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $11.83 and a fifty-two week high of $15.49. The stock’s 50-day moving average is $15.25 and its two-hundred day moving average is $14.83.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be given a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a yield of 9.40%. The ex-dividend date is Monday, October 21st.

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.