Oppenheimer & Co. Inc. Sells 3,500 Shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC)

Oppenheimer & Co. Inc. lessened its position in Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,300 shares of the company’s stock after selling 3,500 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Trust Advisors LP raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 6.7% in the 1st quarter. First Trust Advisors LP now owns 296,124 shares of the company’s stock worth $4,394,000 after acquiring an additional 18,589 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at approximately $32,000. Capital Investment Advisors LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 3.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 143,738 shares of the company’s stock valued at $2,175,000 after acquiring an additional 5,285 shares during the period. Robinson Capital Management LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 3.0% during the 2nd quarter. Robinson Capital Management LLC now owns 102,073 shares of the company’s stock valued at $1,559,000 after acquiring an additional 3,000 shares during the period. Finally, Lindbrook Capital LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 10.5% during the 2nd quarter. Lindbrook Capital LLC now owns 21,000 shares of the company’s stock valued at $317,000 after acquiring an additional 2,000 shares during the period.

ARDC traded down $0.01 on Wednesday, hitting $14.83. The company’s stock had a trading volume of 1,212 shares, compared to its average volume of 84,787. The company’s 50 day simple moving average is $14.72 and its 200-day simple moving average is $15.02. Ares Dynamic Credit Allocation Fund Inc has a 12 month low of $13.07 and a 12 month high of $15.48.

The firm also recently disclosed a monthly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were issued a $0.108 dividend. This represents a $1.30 annualized dividend and a yield of 8.74%. The ex-dividend date was Friday, October 18th.

In related news, insider Ares Capital Management Ii Llc sold 8,221 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.68, for a total value of $120,684.28.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.

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

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