Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Declines By 59.9%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 64,560 shares, a decline of 59.9% from the July 15th total of 160,926 shares. Based on an average daily volume of 147,803 shares, the short-interest ratio is presently 0.4 days.

Ares Dynamic Credit Allocation Fund Stock Performance

ARDC stock traded up $0.05 during trading on Friday, hitting $12.47. 43,193 shares of the stock traded hands, compared to its average volume of 120,843. Ares Dynamic Credit Allocation Fund has a 1 year low of $11.60 and a 1 year high of $15.03. The firm’s 50 day moving average is $12.56 and its two-hundred day moving average is $12.62.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be paid a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Friday, August 21st.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. AdvisorNet Financial Inc raised its holdings in Ares Dynamic Credit Allocation Fund by 3.7% in the 1st quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock worth $6,116,000 after acquiring an additional 17,969 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Ares Dynamic Credit Allocation Fund by 20.3% during the 4th 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 increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 16.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock worth $5,711,000 after purchasing an additional 59,102 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 4.3% in the 4th quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock worth $4,523,000 after purchasing an additional 13,867 shares in the last quarter. Finally, Sit Investment Associates Inc. purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth $3,975,000.

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.