Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Expands By 485.1%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 67,140 shares, a growth of 485.1% from the January 15th total of 11,475 shares. Based on an average trading volume of 127,914 shares, the short-interest ratio is presently 0.5 days. Based on an average trading volume of 127,914 shares, the short-interest ratio is presently 0.5 days.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Hedge funds have recently bought and sold shares of the company. Cedar Wealth Management LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 3.8% in the third quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock worth $294,000 after purchasing an additional 761 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 60.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock valued at $34,000 after buying an additional 957 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 33.6% in the 3rd quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock valued at $64,000 after buying an additional 1,136 shares during the last quarter. Huntleigh Advisors Inc. increased its position in Ares Dynamic Credit Allocation Fund by 0.6% in the 2nd quarter. Huntleigh Advisors Inc. now owns 200,898 shares of the company’s stock worth $2,857,000 after buying an additional 1,285 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of 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 during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 1.1%

Ares Dynamic Credit Allocation Fund stock traded up $0.14 during trading hours on Tuesday, reaching $13.41. 88,361 shares of the company were exchanged, compared to its average volume of 119,962. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.52 and a 12 month high of $15.62. The stock has a 50-day moving average of $13.40 and a 200 day moving average of $13.85.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 20th were paid a $0.1125 dividend. The ex-dividend date was Tuesday, January 20th. This represents a c) dividend on an annualized basis and a yield of 10.1%.

About Ares Dynamic Credit Allocation Fund

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.