Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Expands By 125.4%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 61,300 shares, an increase of 125.4% from the January 15th total of 27,200 shares. Based on an average trading volume of 78,900 shares, the days-to-cover ratio is presently 0.8 days.

Ares Dynamic Credit Allocation Fund Stock Down 0.5 %

Shares of NYSE:ARDC opened at $15.16 on Friday. The firm’s 50 day simple moving average is $15.21 and its 200-day simple moving average is $15.20. Ares Dynamic Credit Allocation Fund has a one year low of $13.45 and a one year high of $15.62.

Ares Dynamic Credit Allocation Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th will be given a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date is Monday, February 24th.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently modified their holdings of the stock. Virtus ETF Advisers LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 16.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 47,060 shares of the company’s stock worth $711,000 after acquiring an additional 6,769 shares during the period. Stifel Financial Corp boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 26.6% during the fourth quarter. Stifel Financial Corp now owns 257,516 shares of the company’s stock valued at $3,891,000 after purchasing an additional 54,135 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 0.6% during the fourth quarter. Guggenheim Capital LLC now owns 514,583 shares of the company’s stock valued at $7,775,000 after purchasing an additional 3,305 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter valued at approximately $1,066,000. Finally, Invesco Ltd. boosted its stake in shares of Ares Dynamic Credit Allocation Fund by 5.4% during the fourth quarter. Invesco Ltd. now owns 287,872 shares of the company’s stock valued at $4,350,000 after purchasing an additional 14,732 shares in the last quarter.

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.