Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Sees Large Decrease in Short Interest

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 22,434 shares, a drop of 65.3% from the July 30th total of 64,560 shares. Based on an average daily volume of 96,432 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of large investors have recently bought and sold shares of the business. AdvisorNet Financial Inc raised its position in Ares Dynamic Credit Allocation Fund by 3.7% in the 1st quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock valued at $6,116,000 after purchasing an additional 17,969 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 20.3% in the fourth quarter. Guggenheim Capital LLC now owns 446,464 shares of the company’s stock valued at $5,938,000 after buying an additional 75,346 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 16.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock valued at $5,711,000 after buying an additional 59,102 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 4.3% in the fourth quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock valued at $4,523,000 after buying an additional 13,867 shares during the last quarter. Finally, Sit Investment Associates Inc. bought a new position in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter valued at about $3,975,000.

Ares Dynamic Credit Allocation Fund Price Performance

Ares Dynamic Credit Allocation Fund stock traded up $0.08 during trading hours on Friday, hitting $12.36. 79,042 shares of the stock were exchanged, compared to its average volume of 118,494. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.60 and a 12 month high of $15.03. The business’s 50-day moving average is $12.51 and its two-hundred day moving average is $12.54.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be issued a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend is Friday, August 21st.

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.