Virtus ETF Advisers LLC Acquires 6,769 Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC)

Virtus ETF Advisers LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,060 shares of the company’s stock after purchasing an additional 6,769 shares during the period. Virtus ETF Advisers LLC’s holdings in Ares Dynamic Credit Allocation Fund were worth $711,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ARDC. Worth Asset Management LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 32.7% during the 4th quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock worth $226,000 after buying an additional 3,682 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after acquiring an additional 10,589 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 19.1% in the fourth quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock worth $354,000 after acquiring an additional 3,758 shares during the period. Raymond James Financial Inc. bought a new stake in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $1,066,000. Finally, NewEdge Wealth LLC increased its position in Ares Dynamic Credit Allocation Fund by 19.5% during the 4th quarter. NewEdge Wealth LLC now owns 106,308 shares of the company’s stock valued at $1,606,000 after purchasing an additional 17,350 shares during the period.

Ares Dynamic Credit Allocation Fund Stock Performance

Ares Dynamic Credit Allocation Fund stock opened at $13.47 on Friday. Ares Dynamic Credit Allocation Fund, Inc. has a 52-week low of $11.52 and a 52-week high of $15.62. The firm has a 50 day moving average price of $13.92 and a two-hundred day moving average price of $14.75.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 21st will be paid a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a yield of 10.02%. The ex-dividend date of this dividend is Monday, April 21st.

About Ares Dynamic Credit Allocation Fund

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