Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Down 45.1% in October

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 43,300 shares, a decrease of 45.1% from the September 30th total of 78,900 shares. Based on an average daily trading volume, of 118,900 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 118,900 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several large investors have recently modified their holdings of ARDC. Elequin Capital LP boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 1,130.5% during the 1st quarter. Elequin Capital LP now owns 3,384 shares of the company’s stock worth $48,000 after buying an additional 3,109 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 33.6% during the 3rd quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock worth $64,000 after buying an additional 1,136 shares during the period. GoalVest Advisory LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $100,000. Anfield Capital Management LLC raised its stake in Ares Dynamic Credit Allocation Fund by 35.8% during the 1st quarter. Anfield Capital Management LLC now owns 7,772 shares of the company’s stock valued at $110,000 after purchasing an additional 2,047 shares during the last quarter. Finally, Axim Planning & Wealth acquired a new position in Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at $167,000.

Ares Dynamic Credit Allocation Fund Stock Up 0.0%

NYSE ARDC opened at $13.51 on Friday. The company has a fifty day simple moving average of $14.15 and a 200 day simple moving average of $14.12. Ares Dynamic Credit Allocation Fund has a 1 year low of $11.52 and a 1 year high of $15.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 20th will be issued a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 10.0%. The ex-dividend date of this dividend is Monday, October 20th.

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.