Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Increases By 92.8%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 146,599 shares, an increase of 92.8% from the June 15th total of 76,045 shares. Based on an average daily trading volume, of 98,128 shares, the short-interest ratio is currently 1.5 days.

Ares Dynamic Credit Allocation Fund Stock Performance

ARDC stock traded down $0.12 on Thursday, reaching $12.57. The company’s stock had a trading volume of 178,446 shares, compared to its average volume of 120,687. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.60 and a 12-month high of $15.03. The business has a fifty day simple moving average of $12.68 and a two-hundred day simple moving average of $12.77.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 20th will be paid a dividend of $0.1125 per share. This represents a c) annualized dividend and a yield of 10.7%. The ex-dividend date is Monday, July 20th.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several large investors have recently added to or reduced their stakes in ARDC. AdvisorNet Financial Inc lifted its stake in Ares Dynamic Credit Allocation Fund by 52.0% during the 4th quarter. AdvisorNet Financial Inc now owns 485,021 shares of the company’s stock valued at $6,451,000 after acquiring an additional 165,888 shares during the period. Foundations Investment Advisors LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 16.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 429,434 shares of the company’s stock worth $5,711,000 after acquiring an additional 59,102 shares during the period. Wolverine Asset Management LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 720.3% during the 4th quarter. Wolverine Asset Management LLC now owns 101,914 shares of the company’s stock valued at $1,355,000 after buying an additional 89,490 shares in the last quarter. Sit Investment Associates Inc. bought a new stake in Ares Dynamic Credit Allocation Fund in the 4th quarter valued at $3,975,000. Finally, Shaker Financial Services LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth about $3,252,000.

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.