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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 27,587 shares, a growth of 73.3% from the August 31st total of 15,923 shares. Based on an average trading volume of 72,333 shares, the short-interest ratio is presently 0.4 days.

Insiders Place Their Bets

In related news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of Ares Dynamic Credit Allocation Fund stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $6,000,000.00. Following the acquisition, the insider owned 240,000 shares in the company, valued at $6,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 60.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock worth $34,000 after purchasing an additional 957 shares during the last quarter. Susquehanna International Group LLP bought a new position in Ares Dynamic Credit Allocation Fund in the 2nd quarter worth approximately $140,000. Waverly Advisors LLC lifted its holdings in shares of Ares Dynamic Credit Allocation Fund by 32.4% during the first quarter. Waverly Advisors LLC now owns 17,058 shares of the company’s stock worth $207,000 after buying an additional 4,178 shares during the last quarter. World Investment Advisors bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $251,000. Finally, Closed End Fund Advisors Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth $330,000.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE:ARDC opened at $11.47 on Friday. The company’s 50 day moving average is $12.19 and its 200-day moving average is $12.40. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.35 and a 12 month high of $14.04.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a $0.1125 dividend. This represents a $1.35 annualized dividend and a yield of 11.8%. The ex-dividend date was Monday, September 21st.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end investment company that seeks to provide investors with current income and capital appreciation. The fund is externally managed by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.

The fund invests primarily in credit-related assets, including senior secured loans, high-yield corporate bonds, structured credit instruments and other fixed-income securities. Its portfolio may include both public and privately originated investments, with an emphasis on below-investment-grade and floating-rate credit.