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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant increase in short interest in the month of 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 short-interest ratio is currently 0.5 days. Based on an average daily volume of 127,914 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in Ares Dynamic Credit Allocation Fund by 13.3% during the second quarter. Janney Montgomery Scott LLC now owns 25,786 shares of the company’s stock worth $367,000 after acquiring an additional 3,019 shares in the last quarter. Huntleigh Advisors Inc. grew its holdings in shares of Ares Dynamic Credit Allocation Fund by 0.6% in the 2nd quarter. Huntleigh Advisors Inc. now owns 200,898 shares of the company’s stock worth $2,857,000 after purchasing an additional 1,285 shares during the last quarter. GoalVest Advisory LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter worth about $100,000. Wolverine Asset Management LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 247.3% during the 2nd quarter. Wolverine Asset Management LLC now owns 67,150 shares of the company’s stock worth $955,000 after purchasing an additional 47,813 shares in the last quarter. Finally, Shaker Financial Services LLC lifted its holdings in Ares Dynamic Credit Allocation Fund by 100.4% during the 2nd quarter. Shaker Financial Services LLC now owns 106,790 shares of the company’s stock valued at $1,519,000 after purchasing an additional 53,492 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 1.1%

ARDC stock traded up $0.14 during midday trading on Tuesday, hitting $13.41. The stock had a trading volume of 88,361 shares, compared to its average volume of 119,962. Ares Dynamic Credit Allocation Fund has a 52 week low of $11.52 and a 52 week high of $15.62. The stock has a 50-day simple moving average of $13.40 and a 200 day simple moving average of $13.85.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 20th were issued a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend was Tuesday, January 20th.

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.