Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Sees Significant Drop in Short Interest

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 64,560 shares, a decline of 59.9% from the July 15th total of 160,926 shares. Based on an average daily volume of 147,803 shares, the days-to-cover ratio is presently 0.4 days.

Ares Dynamic Credit Allocation Fund Stock Performance

NYSE ARDC traded up $0.05 on Friday, hitting $12.47. 43,193 shares of the company’s stock were exchanged, compared to its average volume of 120,843. The firm’s 50-day moving average price is $12.56 and its two-hundred day moving average price is $12.62. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $11.60 and a fifty-two week high of $15.03.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be paid a $0.1125 dividend. The ex-dividend date is Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 valued at $27,000 after acquiring an additional 2,000 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 worth $34,000 after purchasing an additional 957 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter worth $112,000. Founders Financial Alliance LLC acquired a new position in shares of Ares Dynamic Credit Allocation Fund during the 4th quarter worth $140,000. Finally, Anfield Capital Management LLC increased its holdings in shares of Ares Dynamic Credit Allocation Fund by 54.8% in the 4th quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock valued at $168,000 after purchasing an additional 4,462 shares in the last quarter.

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.