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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 63,940 shares, a growth of 577.5% from the April 15th total of 9,438 shares. Based on an average trading volume of 147,537 shares, the short-interest ratio is currently 0.4 days.

Ares Dynamic Credit Allocation Fund Stock Performance

NYSE:ARDC traded down $0.05 during midday trading on Tuesday, reaching $12.83. The stock had a trading volume of 84,353 shares, compared to its average volume of 127,063. The firm has a fifty day simple moving average of $12.35 and a two-hundred day simple moving average of $13.06. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.60 and a 12-month high of $15.03.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date is Thursday, May 21st.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc boosted its position in shares of Ares Dynamic Credit Allocation Fund by 3.7% during the 1st quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock worth $6,116,000 after purchasing an additional 17,969 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of 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 period. Foundations Investment Advisors LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 16.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock worth $5,711,000 after buying an additional 59,102 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Ares Dynamic Credit Allocation Fund by 12.4% during the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock worth $5,920,000 after buying an additional 46,322 shares in the last quarter. Finally, Invesco Ltd. grew its position in Ares Dynamic Credit Allocation Fund by 4.3% during the fourth quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock worth $4,523,000 after buying an additional 13,867 shares during the period.

Ares Dynamic Credit Allocation Fund Company Profile

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.