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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 61,300 shares, an increase of 125.4% from the January 15th total of 27,200 shares. Based on an average trading volume of 78,900 shares, the days-to-cover ratio is currently 0.8 days.

Ares Dynamic Credit Allocation Fund Stock Down 0.5 %

NYSE ARDC opened at $15.16 on Friday. Ares Dynamic Credit Allocation Fund has a 52 week low of $13.45 and a 52 week high of $15.62. The stock’s 50-day moving average price is $15.21 and its 200-day moving average price is $15.20.

Ares Dynamic Credit Allocation Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th will be given a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 8.91%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Worth Asset Management LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 32.7% during the 4th quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock valued at $226,000 after buying an additional 3,682 shares in the last quarter. Cornerstone Advisors LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 3rd quarter valued at about $261,000. Janney Montgomery Scott LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock valued at $323,000 after buying an additional 10,589 shares in the last quarter. LPL Financial LLC lifted its position in shares of Ares Dynamic Credit Allocation Fund by 19.1% during the 4th quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock valued at $354,000 after buying an additional 3,758 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $357,000.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.