Oppenheimer & Co. Inc. Acquires 5,200 Shares of Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC)

Oppenheimer & Co. Inc. grew its holdings in Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) by 41.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,800 shares of the company’s stock after purchasing an additional 5,200 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ares Dynamic Credit Allocation Fund were worth $269,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ARDC. Valeo Financial Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at approximately $32,000. Cornerstone Wealth Management LLC raised its holdings in Ares Dynamic Credit Allocation Fund by 19.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 15,856 shares of the company’s stock worth $241,000 after buying an additional 2,595 shares during the period. Lindbrook Capital LLC raised its holdings in 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 worth $317,000 after buying an additional 2,000 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Ares Dynamic Credit Allocation Fund by 360.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 43,868 shares of the company’s stock worth $651,000 after buying an additional 34,341 shares during the period. Finally, Advisor Group Inc. raised its holdings in Ares Dynamic Credit Allocation Fund by 7.3% during the 2nd quarter. Advisor Group Inc. now owns 77,359 shares of the company’s stock worth $1,170,000 after buying an additional 5,255 shares during the period.

ARDC stock remained flat at $$15.08 during mid-day trading on Friday. 600 shares of the company’s stock traded hands, compared to its average volume of 84,690. The business has a fifty day simple moving average of $15.07 and a 200 day simple moving average of $15.08. Ares Dynamic Credit Allocation Fund Inc has a 52-week low of $13.07 and a 52-week high of $15.94.

The business also recently announced a dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.108 per share. The ex-dividend date of this dividend is Wednesday, September 18th.

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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