Ladenburg Thalmann Financial Services Inc. Raises Holdings in Ares Dynamic Credit Allocation Fund, Inc. (ARDC)

Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 18.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,511 shares of the company’s stock after purchasing an additional 8,604 shares during the period. Ladenburg Thalmann Financial Services Inc. owned approximately 0.24% of Ares Dynamic Credit Allocation Fund worth $911,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of Ares Dynamic Credit Allocation Fund by 0.3% in the 2nd quarter. Citigroup Inc. now owns 12,888 shares of the company’s stock valued at $211,000 after acquiring an additional 33 shares in the last quarter. Ares Management LLC increased its stake in Ares Dynamic Credit Allocation Fund by 6.0% in the 2nd quarter. Ares Management LLC now owns 31,996 shares of the company’s stock valued at $522,000 after buying an additional 1,821 shares during the period. Advisor Group Inc. increased its stake in Ares Dynamic Credit Allocation Fund by 7.6% in the 2nd quarter. Advisor Group Inc. now owns 51,265 shares of the company’s stock valued at $838,000 after buying an additional 3,600 shares during the period. Doliver Capital Advisors LP acquired a new position in Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at approximately $229,000. Finally, Shaker Financial Services LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at approximately $233,000.

Ares Dynamic Credit Allocation Fund, Inc. (NYSE ARDC) traded down $0.15 during midday trading on Friday, hitting $16.45. 57,304 shares of the company traded hands, compared to its average volume of 67,308. Ares Dynamic Credit Allocation Fund, Inc. has a fifty-two week low of $15.24 and a fifty-two week high of $16.60.

The business also recently declared a monthly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 22nd will be issued a $0.1075 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date of this dividend is Wednesday, March 21st.

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

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