Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Update

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 53,200 shares, an increase of 11.8% from the December 15th total of 47,600 shares. Based on an average daily volume of 75,100 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new position in Ares Dynamic Credit Allocation Fund during the second quarter worth approximately $150,000. Sanctuary Advisors LLC acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $357,000. Worth Asset Management LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the 3rd quarter worth $172,000. Foundations Investment Advisors LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 11.1% in the third quarter. Foundations Investment Advisors LLC now owns 320,299 shares of the company’s stock valued at $4,894,000 after acquiring an additional 32,100 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the third quarter valued at about $1,838,000.

Ares Dynamic Credit Allocation Fund Stock Performance

NYSE:ARDC opened at $15.21 on Monday. Ares Dynamic Credit Allocation Fund has a 12-month low of $13.36 and a 12-month high of $15.62. The company’s 50-day moving average is $15.20 and its two-hundred day moving average is $15.17.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st will be paid a $0.1175 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $1.41 annualized dividend and a yield of 9.27%.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.