Readystate Asset Management LP Sells 52,943 Shares of Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Readystate Asset Management LP lessened its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 58.6% in the third quarter, Holdings Channel reports. The institutional investor owned 37,414 shares of the company’s stock after selling 52,943 shares during the period. Readystate Asset Management LP’s holdings in Ares Dynamic Credit Allocation Fund were worth $526,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ARDC. CoreCap Advisors LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 33.6% during the third quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock valued at $64,000 after purchasing an additional 1,136 shares in the last quarter. GoalVest Advisory LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $100,000. Axim Planning & Wealth purchased a new stake in Ares Dynamic Credit Allocation Fund during the second quarter valued at approximately $167,000. QTR Family Wealth LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter worth $204,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Ares Dynamic Credit Allocation Fund in the third quarter worth about $401,000.

Ares Dynamic Credit Allocation Fund Trading Up 0.4%

ARDC opened at $13.25 on Thursday. The company has a 50 day simple moving average of $13.38 and a two-hundred day simple moving average of $13.81. Ares Dynamic Credit Allocation Fund, Inc. has a 1-year low of $11.52 and a 1-year high of $15.37.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a $0.1125 dividend. This represents a c) dividend on an annualized basis and a yield of 10.2%. The ex-dividend date is Friday, February 20th.

Ares Dynamic Credit Allocation Fund Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.