Cohen & Steers Inc. trimmed its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 15.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,489 shares of the company’s stock after selling 34,158 shares during the period. Cohen & Steers Inc. owned about 0.81% of Ares Dynamic Credit Allocation Fund worth $3,058,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN raised its position in Ares Dynamic Credit Allocation Fund by 20.0% in the third quarter. Wells Fargo & Company MN now owns 583,744 shares of the company’s stock valued at $9,573,000 after purchasing an additional 97,311 shares during the period. Shaker Financial Services LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the third quarter valued at about $233,000. Advisors Asset Management Inc. raised its position in Ares Dynamic Credit Allocation Fund by 49.1% in the third quarter. Advisors Asset Management Inc. now owns 870,552 shares of the company’s stock valued at $14,277,000 after purchasing an additional 286,720 shares during the period. Advisor Group Inc. raised its position in Ares Dynamic Credit Allocation Fund by 8.0% in the third quarter. Advisor Group Inc. now owns 55,390 shares of the company’s stock valued at $909,000 after purchasing an additional 4,125 shares during the period. Finally, Doliver Capital Advisors LP purchased a new position in Ares Dynamic Credit Allocation Fund in the third quarter valued at about $229,000.

Ares Dynamic Credit Allocation Fund, Inc. (NYSE ARDC) opened at $16.23 on Wednesday. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $14.90 and a 52-week high of $16.59.

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 21st will be given a $0.105 dividend. This represents a $1.26 annualized dividend and a yield of 7.76%. The ex-dividend date of this dividend is Wednesday, December 20th.

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

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