Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Shares Sold by Morgan Stanley

Morgan Stanley cut its stake in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 115,422 shares of the company’s stock after selling 15,534 shares during the quarter. Morgan Stanley’s holdings in Ares Dynamic Credit Allocation Fund were worth $1,463,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ARDC. Raymond James & Associates grew its stake in shares of Ares Dynamic Credit Allocation Fund by 38.5% during the 3rd quarter. Raymond James & Associates now owns 20,369 shares of the company’s stock worth $258,000 after purchasing an additional 5,661 shares during the period. LPL Financial LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 3rd quarter worth $397,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 15.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 32,982 shares of the company’s stock worth $418,000 after purchasing an additional 4,495 shares during the period. Kestra Private Wealth Services LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 3rd quarter worth $490,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Ares Dynamic Credit Allocation Fund by 153.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 65,921 shares of the company’s stock worth $836,000 after buying an additional 39,924 shares in the last quarter.

Ares Dynamic Credit Allocation Fund stock opened at $14.52 on Thursday. Ares Dynamic Credit Allocation Fund, Inc. has a 52 week low of $8.10 and a 52 week high of $15.91. The firm’s 50-day simple moving average is $14.05 and its 200 day simple moving average is $12.99.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, January 21st will be given a $0.097 dividend. The ex-dividend date is Wednesday, January 20th. This represents a $1.16 annualized dividend and a dividend yield of 8.02%.

Ares Dynamic Credit Allocation Fund 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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