Wells Fargo & Company MN increased its position in shares of Ares Dynamic Credit (NYSE:ARDC) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 629,764 shares of the company’s stock after purchasing an additional 46,020 shares during the period. Wells Fargo & Company MN owned 2.74% of Ares Dynamic Credit worth $10,341,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in ARDC. First Trust Advisors LP raised its position in shares of Ares Dynamic Credit by 15.7% during the 3rd quarter. First Trust Advisors LP now owns 171,188 shares of the company’s stock valued at $2,807,000 after purchasing an additional 23,184 shares during the period. SG Americas Securities LLC purchased a new position in Ares Dynamic Credit in the fourth quarter worth approximately $283,000. Shaker Financial Services LLC purchased a new position in Ares Dynamic Credit in the third quarter worth approximately $233,000. Park Avenue Securities LLC purchased a new position in Ares Dynamic Credit in the fourth quarter worth approximately $193,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Ares Dynamic Credit by 18.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 55,511 shares of the company’s stock worth $911,000 after acquiring an additional 8,604 shares during the last quarter.
Ares Dynamic Credit stock traded down $0.06 during trading on Thursday, reaching $16.31. The stock had a trading volume of 47,858 shares, compared to its average volume of 73,941. Ares Dynamic Credit has a 52-week low of $15.48 and a 52-week high of $16.60.
The company also recently declared a monthly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, June 21st will be paid a $0.1075 dividend. The ex-dividend date is Wednesday, June 20th. This represents a $1.29 dividend on an annualized basis and a yield of 7.91%.
ILLEGAL ACTIVITY NOTICE: This piece of content was published by Macon Daily and is the sole property of of Macon Daily. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://macondaily.com/2018/04/12/ares-dynamic-credit-allocation-fund-inc-ardc-position-raised-by-wells-fargo-company-mn-updated-updated-updated.html.
About Ares Dynamic Credit
There is no company description available for Ares Dynamic Credit Allocation Fund, Inc.
Receive News & Ratings for Ares Dynamic Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Dynamic Credit and related companies with MarketBeat.com's FREE daily email newsletter.