Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Declines By 52.1%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 13,537 shares, a decrease of 52.1% from the November 30th total of 28,254 shares. Based on an average daily volume of 111,564 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 111,564 shares, the days-to-cover ratio is presently 0.1 days.

Ares Dynamic Credit Allocation Fund Trading Up 0.6%

Shares of Ares Dynamic Credit Allocation Fund stock traded up $0.08 on Friday, hitting $13.38. 120,744 shares of the company traded hands, compared to its average volume of 108,957. The business has a 50-day simple moving average of $13.53 and a 200 day simple moving average of $14.05. Ares Dynamic Credit Allocation Fund has a 52 week low of $11.52 and a 52 week high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, December 22nd.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Large investors have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 3.8% during the 3rd quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock valued at $294,000 after acquiring an additional 761 shares during the last quarter. CoreCap Advisors LLC lifted its position in Ares Dynamic Credit Allocation Fund by 33.6% during the third quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock valued at $64,000 after purchasing an additional 1,136 shares during the last quarter. Huntleigh Advisors Inc. lifted its position in Ares Dynamic Credit Allocation Fund by 0.6% during 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. Polar Asset Management Partners Inc. grew its stake in shares of Ares Dynamic Credit Allocation Fund by 2.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after buying an additional 1,361 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 5.8% in the 3rd quarter. Raymond James Financial Inc. now owns 50,535 shares of the company’s stock worth $711,000 after buying an additional 2,781 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Company 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.