Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Up 32.1% in February

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 88,678 shares, a growth of 32.1% from the January 29th total of 67,140 shares. Based on an average daily trading volume, of 105,151 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily trading volume, of 105,151 shares, the days-to-cover ratio is currently 0.8 days.

Ares Dynamic Credit Allocation Fund Trading Down 0.6%

Ares Dynamic Credit Allocation Fund stock traded down $0.07 during mid-day trading on Monday, hitting $12.62. The company had a trading volume of 152,040 shares, compared to its average volume of 116,491. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.52 and a 12 month high of $15.03. The stock’s 50 day moving average price is $13.33 and its two-hundred day moving average price is $13.73.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were given a dividend of $0.1125 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 10.7%.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Several institutional investors have recently added to or reduced their stakes in ARDC. Northwestern Mutual Wealth Management Co. raised its stake in shares of Ares Dynamic Credit Allocation Fund by 6,060.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock worth $27,000 after purchasing an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 957 shares during the period. CoreCap Advisors LLC boosted 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 valued at $64,000 after acquiring an additional 1,136 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of Ares Dynamic Credit Allocation Fund in the fourth quarter worth approximately $112,000. Finally, Founders Financial Alliance LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the fourth quarter valued at approximately $140,000.

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.