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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cedar Wealth Management LLC lifted its position 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 valued at $294,000 after acquiring an additional 761 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of 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 worth $34,000 after acquiring an additional 957 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 33.6% during the 3rd quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock worth $64,000 after acquiring an additional 1,136 shares during the period. Huntleigh Advisors Inc. boosted its position in shares of Ares Dynamic Credit Allocation Fund by 0.6% during the 2nd quarter. Huntleigh Advisors Inc. now owns 200,898 shares of the company’s stock valued at $2,857,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Polar Asset Management Partners Inc. raised its position in shares of Ares Dynamic Credit Allocation Fund by 2.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock valued at $770,000 after buying an additional 1,361 shares during the period.

Ares Dynamic Credit Allocation Fund Stock Down 0.7%

NYSE ARDC traded down $0.09 during midday trading on Wednesday, hitting $13.32. 103,271 shares of the company traded hands, compared to its average volume of 119,336. Ares Dynamic Credit Allocation Fund has a 52 week low of $11.52 and a 52 week high of $15.54. The company’s 50-day simple moving average is $13.40 and its 200-day simple moving average is $13.85.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a $0.1125 dividend. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend 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.