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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 61,300 shares, an increase of 125.4% from the January 15th total of 27,200 shares. Based on an average trading volume of 78,900 shares, the short-interest ratio is presently 0.8 days.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of Ares Dynamic Credit Allocation Fund stock traded down $0.16 during trading on Thursday, hitting $15.26. The stock had a trading volume of 105,981 shares, compared to its average volume of 82,180. The stock has a 50 day simple moving average of $15.22 and a 200 day simple moving average of $15.20. Ares Dynamic Credit Allocation Fund has a 1 year low of $13.45 and a 1 year high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 21st were given a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date was Tuesday, January 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund during the third quarter valued at approximately $1,838,000. Wells Fargo & Company MN grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 5.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,664,519 shares of the company’s stock worth $25,151,000 after purchasing an additional 91,365 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 23.2% in the fourth quarter. Foundations Investment Advisors LLC now owns 394,525 shares of the company’s stock valued at $5,961,000 after purchasing an additional 74,226 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter valued at about $1,066,000. Finally, Advisors Asset Management Inc. boosted its holdings in Ares Dynamic Credit Allocation Fund by 20.4% during the third quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock valued at $6,087,000 after purchasing an additional 67,550 shares in the last quarter.

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.