Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Sees Large Increase in Short Interest

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 101,362 shares, an increase of 14.3% from the February 12th total of 88,678 shares. Based on an average daily trading volume, of 102,833 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 102,833 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Several hedge funds have recently made changes to their positions in ARDC. AdvisorNet Financial Inc lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 35.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 319,133 shares of the company’s stock valued at $4,490,000 after purchasing an additional 84,013 shares in the last quarter. United Advisor Group LLC increased its position in Ares Dynamic Credit Allocation Fund by 1.6% during the 2nd quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock worth $4,782,000 after purchasing an additional 5,435 shares in the last quarter. Advisors Asset Management Inc. increased its position in Ares Dynamic Credit Allocation Fund by 12.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock worth $5,920,000 after purchasing an additional 46,322 shares in the last quarter. NewEdge Wealth LLC raised its holdings in Ares Dynamic Credit Allocation Fund by 63.2% in the third quarter. NewEdge Wealth LLC now owns 216,714 shares of the company’s stock valued at $3,019,000 after buying an additional 83,889 shares during the period. Finally, Camelot Portfolios LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the fourth quarter valued at approximately $112,000.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC opened at $12.27 on Thursday. Ares Dynamic Credit Allocation Fund has a 1 year low of $11.52 and a 1 year high of $15.03. The company’s 50 day simple moving average is $13.07 and its 200 day simple moving average is $13.53.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be paid a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, March 20th.

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.