Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Decreases By 6.3%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Rating) was the target of a significant drop in short interest in December. As of December 30th, there was short interest totalling 13,400 shares, a drop of 6.3% from the December 15th total of 14,300 shares. Based on an average trading volume of 97,500 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

A number of hedge funds have recently modified their holdings of ARDC. Matisse Capital purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the third quarter valued at $706,000. Hennion & Walsh Asset Management Inc. boosted its position in Ares Dynamic Credit Allocation Fund by 16.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 276,495 shares of the company’s stock worth $3,373,000 after acquiring an additional 40,073 shares during the period. Saba Capital Management L.P. purchased a new position in Ares Dynamic Credit Allocation Fund during the 1st quarter valued at about $542,000. Walleye Capital LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the 1st quarter worth approximately $455,000. Finally, Advisor Resource Council purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter worth about $378,000.

Ares Dynamic Credit Allocation Fund Trading Up 0.2 %

NYSE ARDC opened at $12.32 on Wednesday. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.16 and a 12 month high of $15.80. The company’s 50 day simple moving average is $11.95 and its 200 day simple moving average is $12.22.

Ares Dynamic Credit Allocation Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 20th will be given a dividend of $0.1075 per share. This is a positive change from Ares Dynamic Credit Allocation Fund’s previous monthly dividend of $0.10. The ex-dividend date is Thursday, January 19th. This represents a $1.29 annualized dividend and a dividend yield of 10.47%.

Ares Dynamic Credit Allocation Fund Company Profile

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Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.