Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Up 54.3% in September

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 219,900 shares, an increase of 54.3% from the August 31st total of 142,500 shares. Based on an average daily trading volume, of 99,600 shares, the short-interest ratio is currently 2.2 days. Based on an average daily trading volume, of 99,600 shares, the short-interest ratio is currently 2.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARDC. Elequin Capital LP boosted its holdings in Ares Dynamic Credit Allocation Fund by 1,130.5% in the first quarter. Elequin Capital LP now owns 3,384 shares of the company’s stock valued at $48,000 after acquiring an additional 3,109 shares during the last quarter. GoalVest Advisory LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the second quarter valued at $100,000. Anfield Capital Management LLC boosted its holdings in Ares Dynamic Credit Allocation Fund by 35.8% in the first quarter. Anfield Capital Management LLC now owns 7,772 shares of the company’s stock valued at $110,000 after acquiring an additional 2,047 shares during the last quarter. Axim Planning & Wealth acquired a new position in Ares Dynamic Credit Allocation Fund in the second quarter valued at $167,000. Finally, Wolverine Asset Management LLC acquired a new position in Ares Dynamic Credit Allocation Fund in the first quarter valued at $273,000.

Ares Dynamic Credit Allocation Fund Trading Up 0.0%

Shares of Ares Dynamic Credit Allocation Fund stock opened at $13.77 on Thursday. Ares Dynamic Credit Allocation Fund has a twelve month low of $11.52 and a twelve month high of $15.62. The business’s fifty day moving average price is $14.46 and its 200 day moving average price is $14.12.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.1125 dividend. The ex-dividend date was Monday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 9.8%.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.