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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 58,400 shares, a decline of 9.2% from the August 31st total of 64,300 shares. Based on an average daily trading volume, of 96,900 shares, the short-interest ratio is currently 0.6 days.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE:ARDC opened at $15.28 on Tuesday. Ares Dynamic Credit Allocation Fund has a 1 year low of $11.83 and a 1 year high of $15.49. The stock has a 50-day simple moving average of $15.18 and a 200-day simple moving average of $14.70.

Ares Dynamic Credit Allocation Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.1175 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.41 annualized dividend and a yield of 9.23%.

Institutional Trading of Ares Dynamic Credit Allocation Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARDC. B. Riley Wealth Advisors Inc. purchased a new position in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter valued at $150,000. 9258 Wealth Management LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 1st quarter worth approximately $176,000. Tyche Wealth Partners LLC acquired a new position in Ares Dynamic Credit Allocation Fund during the second quarter worth approximately $344,000. Sanctuary Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the second quarter valued at approximately $357,000. Finally, Curated Wealth Partners LLC lifted its stake in Ares Dynamic Credit Allocation Fund by 200.8% in the second quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock valued at $1,285,000 after buying an additional 171,963 shares during 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.