Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Stock Short Interest Report for October

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 104,846 shares, an increase of 168.0% from the October 15th total of 39,123 shares. Based on an average trading volume of 185,277 shares, the days-to-cover ratio is presently 0.6 days.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of NYSE:ARDC opened at $11.38 on Friday. Ares Dynamic Credit Allocation Fund has a 52-week low of $11.10 and a 52-week high of $13.96. The business has a 50-day moving average price of $11.63 and a 200-day moving average price of $12.35.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a $0.1125 dividend. This represents a $1.35 annualized dividend and a yield of 11.9%. The ex-dividend date is Friday, November 20th.

Insider Buying and Selling

In other news, major shareholder Financial For Luthera Thrivent purchased 240,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $6,000,000.00. Following the purchase, the insider owned 240,000 shares in the company, valued at $6,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently bought and sold shares of ARDC. Icon Advisers Inc. Co. acquired a new stake in Ares Dynamic Credit Allocation Fund during the 1st quarter valued at approximately $1,182,000. Shaker Financial Services LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 89.4% in the third quarter. Shaker Financial Services LLC now owns 196,145 shares of the company’s stock worth $2,256,000 after acquiring an additional 92,604 shares during the period. Bank of America Corp DE acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth $1,016,000. NewEdge Wealth LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth $3,154,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the third quarter worth $4,191,000.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a diversified portfolio of credit-related assets. Its investments may include broadly syndicated loans, high-yield bonds, investment-grade corporate debt, structured credit, collateralized loan obligation securities and other fixed-income instruments.