Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Sees Large Growth in Short Interest

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 53,200 shares, a growth of 11.8% from the December 15th total of 47,600 shares. Based on an average daily trading volume, of 75,100 shares, the short-interest ratio is currently 0.7 days.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of ARDC stock traded up $0.07 during mid-day trading on Friday, hitting $15.21. 85,483 shares of the stock were exchanged, compared to its average volume of 82,708. The stock’s fifty day simple moving average is $15.20 and its two-hundred day simple moving average is $15.17. Ares Dynamic Credit Allocation Fund has a 12-month low of $13.36 and a 12-month high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be paid a dividend of $0.1175 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $1.41 dividend on an annualized basis and a yield of 9.27%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Secure Asset Management LLC grew its position in Ares Dynamic Credit Allocation Fund by 46.6% during the 4th quarter. Secure Asset Management LLC now owns 187,935 shares of the company’s stock worth $2,840,000 after purchasing an additional 59,702 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after buying an additional 10,589 shares during the period. Worth Asset Management LLC grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 32.7% during the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock worth $226,000 after buying an additional 3,682 shares during the last quarter. Cornerstone Advisors LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the 3rd quarter valued at about $261,000. Finally, Advisors Asset Management Inc. raised its stake in Ares Dynamic Credit Allocation Fund by 20.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 398,379 shares of the company’s stock valued at $6,087,000 after acquiring an additional 67,550 shares during the last quarter.

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.