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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 22,434 shares, a decline of 65.3% from the July 30th total of 64,560 shares. Based on an average daily trading volume, of 96,432 shares, the short-interest ratio is currently 0.2 days.

Ares Dynamic Credit Allocation Fund Stock Up 0.7%

Shares of Ares Dynamic Credit Allocation Fund stock opened at $12.36 on Friday. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.60 and a 12-month high of $15.03. The company has a 50-day moving average of $12.51 and a two-hundred day moving average of $12.54.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be paid a $0.1125 dividend. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date of this dividend is Friday, August 21st.

Institutional Trading of Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently bought and sold shares of the company. AdvisorNet Financial Inc increased its position in shares of Ares Dynamic Credit Allocation Fund by 3.7% in the first quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock valued at $6,116,000 after buying an additional 17,969 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 20.3% in the 4th quarter. Guggenheim Capital LLC now owns 446,464 shares of the company’s stock worth $5,938,000 after buying an additional 75,346 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 16.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock worth $5,711,000 after buying an additional 59,102 shares in the last quarter. Invesco Ltd. grew its stake in Ares Dynamic Credit Allocation Fund by 4.3% in the 4th quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock valued at $4,523,000 after acquiring an additional 13,867 shares during the last quarter. Finally, Sit Investment Associates Inc. purchased a new position in Ares Dynamic Credit Allocation Fund during the 4th quarter valued at about $3,975,000.

About Ares Dynamic Credit Allocation Fund

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.