Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Update

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 42,187 shares, a decline of 58.4% from the February 26th total of 101,362 shares. Based on an average trading volume of 150,843 shares, the short-interest ratio is currently 0.3 days.

Ares Dynamic Credit Allocation Fund Stock Down 1.6%

NYSE:ARDC opened at $11.93 on Friday. The company has a 50 day moving average price of $12.86 and a 200 day moving average price of $13.41. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $11.52 and a fifty-two week high of $15.03.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be paid a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date is Friday, March 20th.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently modified their holdings of ARDC. World Investment Advisors purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at $251,000. Sit Investment Associates Inc. purchased a new position in Ares Dynamic Credit Allocation Fund during the 4th quarter valued at about $3,975,000. Invesco Ltd. boosted its holdings in Ares Dynamic Credit Allocation Fund by 4.3% during the 4th quarter. Invesco Ltd. now owns 340,061 shares of the company’s stock valued at $4,523,000 after acquiring an additional 13,867 shares during the period. XTX Topco Ltd acquired a new position in Ares Dynamic Credit Allocation Fund in the 4th quarter valued at about $358,000. Finally, Readystate Asset Management LP grew its position in Ares Dynamic Credit Allocation Fund by 353.3% in the 4th quarter. Readystate Asset Management LP now owns 169,592 shares of the company’s stock valued at $2,256,000 after acquiring an additional 132,178 shares in the last quarter.

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.