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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a significant increase in short interest during the month of 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 trading volume, of 75,100 shares, the days-to-cover ratio is currently 0.7 days.

Ares Dynamic Credit Allocation Fund Trading Up 0.5 %

ARDC stock opened at $15.21 on Monday. The company has a fifty day moving average price of $15.20 and a 200 day moving average price of $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 annualized dividend and a yield of 9.27%. The ex-dividend date of this dividend is Tuesday, January 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth approximately $150,000. Worth Asset Management LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the third quarter worth $172,000. Cornerstone Advisors LLC acquired a new stake in Ares Dynamic Credit Allocation Fund in the third quarter valued at $261,000. Janney Montgomery Scott LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after purchasing an additional 10,589 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $357,000.

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.