Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Up 13.5% in August

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 42,000 shares, an increase of 13.5% from the July 31st total of 37,000 shares. Based on an average daily trading volume, of 91,200 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund

Institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management increased its holdings in Ares Dynamic Credit Allocation Fund by 85.7% during the 4th quarter. Spire Wealth Management now owns 6,500 shares of the company’s stock worth $89,000 after purchasing an additional 3,000 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 10.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 260,207 shares of the company’s stock worth $3,492,000 after buying an additional 23,819 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Ares Dynamic Credit Allocation Fund by 21.6% in the fourth quarter. Wells Fargo & Company MN now owns 891,976 shares of the company’s stock valued at $12,265,000 after acquiring an additional 158,262 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Ares Dynamic Credit Allocation Fund by 1.1% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 75,635 shares of the company’s stock valued at $1,076,000 after acquiring an additional 794 shares during the last quarter. Finally, 9258 Wealth Management LLC acquired a new position in Ares Dynamic Credit Allocation Fund during the 1st quarter worth $176,000.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE ARDC remained flat at $15.37 on Friday. The company’s stock had a trading volume of 99,875 shares, compared to its average volume of 102,829. The firm’s 50-day moving average is $15.06 and its 200-day moving average is $14.47. Ares Dynamic Credit Allocation Fund has a 52-week low of $11.83 and a 52-week high of $15.49.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a yield of 9.17%. The ex-dividend date was Tuesday, August 20th.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.