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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 53,200 shares, a growth 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.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the third quarter valued at approximately $1,838,000. Advisors Asset Management Inc. boosted its stake in Ares Dynamic Credit Allocation Fund by 20.4% during the 3rd 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 during the last quarter. Secure Asset Management LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 46.6% in the 4th quarter. Secure Asset Management LLC now owns 187,935 shares of the company’s stock worth $2,840,000 after purchasing an additional 59,702 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of 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 worth $4,894,000 after purchasing an additional 32,100 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth $357,000.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC stock traded up $0.07 during trading hours on Monday, hitting $15.21. 85,483 shares of the company’s stock traded hands, compared to its average volume of 82,708. The stock’s fifty day simple moving average is $15.20 and its two-hundred day simple moving average is $15.17. Ares Dynamic Credit Allocation Fund has a 12-month low of $13.36 and a 12-month high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

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

About Ares Dynamic Credit Allocation Fund

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.