Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Expands By 92.8%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 146,599 shares, a growth of 92.8% from the June 15th total of 76,045 shares. Based on an average daily volume of 98,128 shares, the short-interest ratio is currently 1.5 days.

Ares Dynamic Credit Allocation Fund Stock Down 0.7%

ARDC opened at $12.49 on Friday. Ares Dynamic Credit Allocation Fund has a twelve month low of $11.60 and a twelve month high of $15.03. The company has a 50-day simple moving average of $12.67 and a 200 day simple moving average of $12.76.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 20th will be given a $0.1125 dividend. The ex-dividend date is Monday, July 20th. This represents a c) annualized dividend and a dividend yield of 10.8%.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in Ares Dynamic Credit Allocation Fund by 6,060.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,033 shares of the company’s stock valued at $27,000 after purchasing an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Ares Dynamic Credit Allocation Fund by 60.0% in 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 in the last quarter. Camelot Portfolios LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at $112,000. Founders Financial Alliance LLC bought a new position in shares of Ares Dynamic Credit Allocation Fund in the 4th quarter valued at $140,000. Finally, Anfield Capital Management LLC raised its holdings in shares of Ares Dynamic Credit Allocation Fund by 54.8% during the 4th quarter. Anfield Capital Management LLC now owns 12,609 shares of the company’s stock worth $168,000 after buying an additional 4,462 shares in 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.