Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Sees Large Decline in Short Interest

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a significant decrease in short interest in December. As of December 15th, there was short interest totaling 13,537 shares, a decrease of 52.1% from the November 30th total of 28,254 shares. Based on an average daily volume of 111,564 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 111,564 shares, the days-to-cover ratio is presently 0.1 days.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC stock traded down $0.05 during mid-day trading on Monday, hitting $13.34. The stock had a trading volume of 67,159 shares, compared to its average volume of 108,772. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.52 and a 12-month high of $15.62. The firm’s 50-day moving average is $13.53 and its two-hundred day moving average is $14.04.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 10.1%. The ex-dividend date is Monday, December 22nd.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several large investors have recently bought and sold shares of ARDC. Polar Asset Management Partners Inc. lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 2.6% during the third quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after buying an additional 1,361 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 5.8% during the 3rd quarter. Raymond James Financial Inc. now owns 50,535 shares of the company’s stock valued at $711,000 after purchasing an additional 2,781 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund in the third quarter worth about $786,000. Invesco Ltd. boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 9.5% during the 3rd quarter. Invesco Ltd. now owns 326,194 shares of the company’s stock worth $4,590,000 after acquiring an additional 28,337 shares in the last quarter. Finally, Cedar Wealth Management LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 3.8% during the 3rd quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock valued at $294,000 after acquiring an additional 761 shares during the period.

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.