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 growth in short interest during the month of April. As of April 30th, there was short interest totaling 63,940 shares, a growth of 577.5% from the April 15th total of 9,438 shares. Based on an average daily trading volume, of 147,537 shares, the days-to-cover ratio is currently 0.4 days.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE ARDC traded down $0.05 during trading hours on Tuesday, reaching $12.83. The company’s stock had a trading volume of 84,353 shares, compared to its average volume of 127,063. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $11.60 and a fifty-two week high of $15.03. The company’s 50-day moving average is $12.35 and its two-hundred day moving average is $13.06.

Ares Dynamic Credit Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a $0.1125 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 10.5%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc raised its position in shares of Ares Dynamic Credit Allocation Fund by 3.7% during the 1st quarter. AdvisorNet Financial Inc now owns 502,990 shares of the company’s stock worth $6,116,000 after purchasing an additional 17,969 shares during the last quarter. Guggenheim Capital LLC increased its position in Ares Dynamic Credit Allocation Fund by 20.3% during the fourth quarter. Guggenheim Capital LLC now owns 446,464 shares of the company’s stock worth $5,938,000 after buying an additional 75,346 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings 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 last quarter. Advisors Asset Management Inc. lifted its position in shares of Ares Dynamic Credit Allocation Fund by 12.4% in the third quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after acquiring an additional 46,322 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Ares Dynamic Credit Allocation Fund by 4.3% in the fourth 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 in the last quarter.

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.