Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Update

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a significant increase in short interest during 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 short-interest ratio is currently 0.8 days.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE ARDC opened at $15.16 on Friday. Ares Dynamic Credit Allocation Fund has a 12 month low of $13.45 and a 12 month high of $15.62. The stock’s fifty day moving average price is $15.21 and its 200-day moving average price is $15.20.

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 paid a $0.1125 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 8.91%.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of institutional investors have recently modified their holdings of the stock. Worth Asset Management LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 32.7% during the fourth quarter. Worth Asset Management LLC now owns 14,942 shares of the company’s stock valued at $226,000 after buying an additional 3,682 shares during the last quarter. Cornerstone Advisors LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the third quarter valued at $261,000. Janney Montgomery Scott LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 98.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock valued at $323,000 after buying an additional 10,589 shares during the last quarter. LPL Financial LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 19.1% during the fourth quarter. LPL Financial LLC now owns 23,441 shares of the company’s stock valued at $354,000 after buying an additional 3,758 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the second quarter valued at $357,000.

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.