Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Decreases By 65.3%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 22,434 shares, a decline of 65.3% from the July 30th total of 64,560 shares. Based on an average daily trading volume, of 96,432 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Icon Advisers Inc. Co. purchased a new position in Ares Dynamic Credit Allocation Fund during the 1st quarter worth approximately $1,182,000. Foundations Investment Advisors LLC boosted 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 valued at $5,711,000 after acquiring an additional 59,102 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth $3,975,000. Wolverine Asset Management LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 720.3% during the fourth quarter. Wolverine Asset Management LLC now owns 101,914 shares of the company’s stock worth $1,355,000 after purchasing an additional 89,490 shares during the last quarter. Finally, NewEdge Wealth LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the second quarter worth $3,154,000.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE ARDC traded up $0.08 during mid-day trading on Friday, hitting $12.36. The stock had a trading volume of 79,042 shares, compared to its average volume of 118,494. The company has a 50 day moving average of $12.52 and a two-hundred day moving average of $12.55. Ares Dynamic Credit Allocation Fund has a twelve month low of $11.60 and a twelve month high of $15.03.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently disclosed 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 10.9%. The ex-dividend date is Friday, August 21st.

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.