Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Stock Short Interest Report for October

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a large increase in short interest during the month of October. As of October 30th, there was short interest totaling 104,846 shares, an increase of 168.0% from the October 15th total of 39,123 shares. Based on an average daily volume of 185,277 shares, the short-interest ratio is presently 0.6 days.

Insider Buying and Selling at Ares Dynamic Credit Allocation Fund

In other Ares Dynamic Credit Allocation Fund news, major shareholder Financial For Luthera Thrivent bought 240,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $6,000,000.00. Following the purchase, the insider directly owned 240,000 shares in the company, valued at $6,000,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Icon Advisers Inc. Co. acquired a new stake in Ares Dynamic Credit Allocation Fund in the 1st quarter worth approximately $1,182,000. Shaker Financial Services LLC increased its stake in Ares Dynamic Credit Allocation Fund by 89.4% during the 3rd quarter. Shaker Financial Services LLC now owns 196,145 shares of the company’s stock valued at $2,256,000 after purchasing an additional 92,604 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth $1,016,000. NewEdge Wealth LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the second quarter worth $3,154,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 26.6% in the third quarter. Farther Finance Advisors LLC now owns 199,121 shares of the company’s stock worth $2,290,000 after buying an additional 41,869 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Trading Down 1.1%

Ares Dynamic Credit Allocation Fund stock opened at $11.38 on Friday. The stock has a 50-day moving average of $11.63 and a two-hundred day moving average of $12.35. Ares Dynamic Credit Allocation Fund has a one year low of $11.10 and a one year high of $13.96.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.1125 per share. The ex-dividend date is Friday, November 20th. This represents a $1.35 annualized dividend and a dividend yield of 11.9%.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol ARDC. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing across a diversified portfolio of credit-related assets. Its investments may include broadly syndicated loans, high-yield bonds, investment-grade corporate debt, structured credit, collateralized loan obligation securities and other fixed-income instruments.