Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Drops By 59.9%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 64,560 shares, a drop of 59.9% from the July 15th total of 160,926 shares. Based on an average daily trading volume, of 147,803 shares, the short-interest ratio is currently 0.4 days.

Ares Dynamic Credit Allocation Fund Stock Performance

NYSE:ARDC opened at $12.47 on Monday. The stock’s fifty day simple moving average is $12.56 and its 200-day simple moving average is $12.61. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.60 and a 12-month high of $15.03.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be paid a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Friday, August 21st.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 60.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock valued at $34,000 after purchasing an additional 957 shares during the period. Polar Asset Management Partners Inc. boosted its position in shares of Ares Dynamic Credit Allocation Fund by 2.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after acquiring an additional 1,361 shares in the last quarter. Huntleigh Advisors Inc. raised its holdings in Ares Dynamic Credit Allocation Fund by 0.9% during the fourth quarter. Huntleigh Advisors Inc. now owns 216,625 shares of the company’s stock worth $2,881,000 after purchasing an additional 1,833 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Ares Dynamic Credit Allocation Fund by 6,060.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock valued at $27,000 after acquiring an additional 2,000 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 6.0% in the 4th quarter. LPL Financial LLC now owns 40,739 shares of the company’s stock valued at $542,000 after purchasing an additional 2,294 shares during the period.

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.