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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 88,678 shares, an increase of 32.1% from the January 29th total of 67,140 shares. Based on an average trading volume of 105,151 shares, the short-interest ratio is currently 0.8 days. Based on an average trading volume of 105,151 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC grew its stake in shares of Ares Dynamic Credit Allocation Fund by 247.3% in the second quarter. Wolverine Asset Management LLC now owns 67,150 shares of the company’s stock valued at $955,000 after acquiring an additional 47,813 shares in the last quarter. Shaker Financial Services LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 100.4% in the 2nd quarter. Shaker Financial Services LLC now owns 106,790 shares of the company’s stock valued at $1,519,000 after purchasing an additional 53,492 shares during the period. Axim Planning & Wealth bought a new stake in Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at about $167,000. United Advisor Group LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 1.6% during the 2nd quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock worth $4,782,000 after purchasing an additional 5,435 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 8.6% during the second quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock worth $4,236,000 after purchasing an additional 23,540 shares during the period.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of Ares Dynamic Credit Allocation Fund stock traded down $0.10 on Tuesday, hitting $12.53. The stock had a trading volume of 118,222 shares, compared to its average volume of 116,532. Ares Dynamic Credit Allocation Fund has a twelve month low of $11.52 and a twelve month high of $15.03. The business’s 50 day moving average is $13.30 and its two-hundred day moving average is $13.71.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were given a dividend of $0.1125 per share. The ex-dividend date was Friday, February 20th. This represents a c) annualized dividend and a yield of 10.8%.

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.