Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Decreases By 60.7%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 9,438 shares, a decline of 60.7% from the March 31st total of 24,021 shares. Based on an average trading volume of 117,869 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cedar Wealth Management LLC boosted its position in shares of Ares Dynamic Credit Allocation Fund by 3.8% during the 3rd quarter. Cedar Wealth Management LLC now owns 20,927 shares of the company’s stock valued at $294,000 after acquiring an additional 761 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Ares Dynamic Credit Allocation Fund by 60.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,552 shares of the company’s stock valued at $34,000 after purchasing an additional 957 shares during the last quarter. CoreCap Advisors LLC increased its position 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 valued at $64,000 after purchasing an additional 1,136 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in shares of Ares Dynamic Credit Allocation Fund by 2.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock valued at $770,000 after purchasing an additional 1,361 shares during the last quarter. Finally, Huntleigh Advisors Inc. increased its position in shares of Ares Dynamic Credit Allocation Fund by 0.9% during the 4th quarter. Huntleigh Advisors Inc. now owns 216,625 shares of the company’s stock valued at $2,881,000 after purchasing an additional 1,833 shares during the last quarter.

Ares Dynamic Credit Allocation Fund Stock Up 0.2%

Shares of NYSE ARDC traded up $0.03 during midday trading on Tuesday, reaching $12.53. 19,550 shares of the stock traded hands, compared to its average volume of 123,913. Ares Dynamic Credit Allocation Fund has a one year low of $11.60 and a one year high of $15.03. The company’s 50 day moving average is $12.40 and its 200 day moving average is $13.10.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 20th will be given a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Monday, April 20th.

Ares Dynamic Credit Allocation Fund Company Profile

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.