Wolverine Asset Management LLC Decreases Position in Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Wolverine Asset Management LLC trimmed its holdings in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 81.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,424 shares of the company’s stock after selling 54,726 shares during the period. Wolverine Asset Management LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 10.1% during the second quarter. Farther Finance Advisors LLC now owns 137,190 shares of the company’s stock worth $1,951,000 after purchasing an additional 12,556 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Ares Dynamic Credit Allocation Fund by 38.9% during the second quarter. AdvisorNet Financial Inc now owns 235,120 shares of the company’s stock worth $3,343,000 after acquiring an additional 65,840 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 13.3% in the second quarter. Janney Montgomery Scott LLC now owns 25,786 shares of the company’s stock worth $367,000 after acquiring an additional 3,019 shares in the last quarter. Huntleigh Advisors Inc. boosted its holdings in Ares Dynamic Credit Allocation Fund by 0.6% in the second quarter. Huntleigh Advisors Inc. now owns 200,898 shares of the company’s stock valued at $2,857,000 after purchasing an additional 1,285 shares during the last quarter. Finally, GoalVest Advisory LLC acquired a new stake in Ares Dynamic Credit Allocation Fund in the second quarter valued at $100,000.

Ares Dynamic Credit Allocation Fund Trading Down 0.4%

NYSE:ARDC opened at $13.58 on Monday. Ares Dynamic Credit Allocation Fund, Inc. has a one year low of $11.52 and a one year high of $15.62. The stock has a 50-day simple moving average of $13.48 and a 200 day simple moving average of $13.96.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 20th will be given a $0.1125 dividend. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date is Tuesday, January 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.