Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Declines By 43.5%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 7,642 shares, a decrease of 43.5% from the December 15th total of 13,537 shares. Based on an average trading volume of 137,796 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 137,796 shares, the days-to-cover ratio is currently 0.1 days.

Ares Dynamic Credit Allocation Fund Stock Down 0.3%

ARDC stock traded down $0.04 during mid-day trading on Thursday, hitting $13.62. The company had a trading volume of 151,894 shares, compared to its average volume of 125,299. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.52 and a 12-month high of $15.62. The company has a 50-day moving average price of $13.49 and a 200 day moving average price of $13.97.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 20th will be given a $0.1125 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Tuesday, January 20th.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Several institutional investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 33.6% during the 3rd quarter. CoreCap Advisors LLC now owns 4,517 shares of the company’s stock worth $64,000 after acquiring an additional 1,136 shares in the last quarter. GoalVest Advisory LLC bought a new stake in Ares Dynamic Credit Allocation Fund in the second quarter worth $100,000. Axim Planning & Wealth bought a new stake in Ares Dynamic Credit Allocation Fund in the second quarter worth $167,000. QTR Family Wealth LLC purchased a new stake in Ares Dynamic Credit Allocation Fund during the third quarter valued at $204,000. Finally, Cedar Wealth Management LLC lifted its position in Ares Dynamic Credit Allocation Fund by 3.8% during the third quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock valued at $294,000 after purchasing an additional 761 shares during the last quarter.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.