Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Declines By 43.1%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 24,021 shares, a decrease of 43.1% from the March 15th total of 42,187 shares. Based on an average daily volume of 119,892 shares, the days-to-cover ratio is currently 0.2 days.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of Ares Dynamic Credit Allocation Fund stock traded up $0.02 during trading on Monday, hitting $12.27. 50,681 shares of the stock traded hands, compared to its average volume of 121,245. The firm’s fifty day moving average is $12.59 and its 200-day moving average is $13.21. Ares Dynamic Credit Allocation Fund has a 52 week low of $11.60 and a 52 week high of $15.03.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 20th will be given a dividend of $0.1125 per share. The ex-dividend date is Monday, April 20th. This represents a c) annualized dividend and a dividend yield of 11.0%.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in Ares Dynamic Credit Allocation Fund by 52.0% during the 4th quarter. AdvisorNet Financial Inc now owns 485,021 shares of the company’s stock valued at $6,451,000 after acquiring an additional 165,888 shares during the period. Guggenheim Capital LLC lifted its position in Ares Dynamic Credit Allocation Fund by 20.3% in the fourth quarter. Guggenheim Capital LLC now owns 446,464 shares of the company’s stock valued at $5,938,000 after purchasing an additional 75,346 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Ares Dynamic Credit Allocation Fund by 16.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock valued at $5,711,000 after purchasing an additional 59,102 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Ares Dynamic Credit Allocation Fund by 12.4% in the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after purchasing an additional 46,322 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Ares Dynamic Credit Allocation Fund by 4.3% in the fourth quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock valued at $4,523,000 after purchasing an additional 13,867 shares during the last quarter.

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.