Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Up 92.8% in June

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 146,599 shares, a growth of 92.8% from the June 15th total of 76,045 shares. Based on an average daily trading volume, of 98,128 shares, the days-to-cover ratio is currently 1.5 days.

Ares Dynamic Credit Allocation Fund Stock Down 0.9%

Ares Dynamic Credit Allocation Fund stock traded down $0.12 during trading hours on Thursday, hitting $12.57. The company had a trading volume of 178,446 shares, compared to its average volume of 120,687. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $11.60 and a fifty-two week high of $15.03. The firm’s fifty day moving average is $12.68 and its 200-day moving average is $12.77.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 20th will be paid a dividend of $0.1125 per share. The ex-dividend date is Monday, July 20th. This represents a c) dividend on an annualized basis and a yield of 10.7%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Ares Dynamic Credit Allocation Fund by 8.6% during the second quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock worth $4,236,000 after acquiring an additional 23,540 shares in the last quarter. Osaic Holdings Inc. boosted its position in Ares Dynamic Credit Allocation Fund by 18.2% during the second quarter. Osaic Holdings Inc. now owns 61,122 shares of the company’s stock valued at $869,000 after acquiring an additional 9,394 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the third quarter valued at about $786,000. Raymond James Financial Inc. increased its stake in Ares Dynamic Credit Allocation Fund by 5.8% during the 3rd quarter. Raymond James Financial Inc. now owns 50,535 shares of the company’s stock valued at $711,000 after purchasing an additional 2,781 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its holdings in Ares Dynamic Credit Allocation Fund by 2.6% during the third quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after buying an additional 1,361 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Company Profile

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.