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 decrease in short interest during the month of August. As of August 14th, there was short interest totaling 22,434 shares, a decrease of 65.3% from the July 30th total of 64,560 shares. Based on an average daily trading volume, of 96,432 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently made changes to their positions in the business. Sit Investment Associates Inc. acquired a new position in Ares Dynamic Credit Allocation Fund during the 4th quarter valued at about $3,975,000. NewEdge Wealth LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth about $3,154,000. Readystate Asset Management LP grew its stake in shares of Ares Dynamic Credit Allocation Fund by 353.3% during the fourth quarter. Readystate Asset Management LP now owns 169,592 shares of the company’s stock worth $2,256,000 after acquiring an additional 132,178 shares during the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the first quarter valued at about $1,182,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 722.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 109,817 shares of the company’s stock valued at $1,461,000 after acquiring an additional 96,470 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 0.7%

Shares of NYSE:ARDC traded up $0.08 during trading on Friday, reaching $12.36. The stock had a trading volume of 79,042 shares, compared to its average volume of 118,494. The firm’s 50-day simple moving average is $12.52 and its 200 day simple moving average is $12.55. Ares Dynamic Credit Allocation Fund has a one year low of $11.60 and a one year high of $15.03.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be issued 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.

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.