Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Down 9.2% in September

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 58,400 shares, a decline of 9.2% from the August 31st total of 64,300 shares. Based on an average trading volume of 96,900 shares, the days-to-cover ratio is presently 0.6 days.

Ares Dynamic Credit Allocation Fund Stock Performance

Ares Dynamic Credit Allocation Fund stock opened at $15.28 on Tuesday. The company has a 50-day moving average price of $15.18 and a 200 day moving average price of $14.70. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.83 and a 12-month high of $15.49.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a $0.1175 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.41 dividend on an annualized basis and a yield of 9.23%.

Institutional Trading of Ares Dynamic Credit Allocation Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new stake in Ares Dynamic Credit Allocation Fund during the 2nd quarter worth approximately $150,000. 9258 Wealth Management LLC purchased a new stake in shares of Ares Dynamic Credit Allocation Fund during the first quarter worth approximately $176,000. Tyche Wealth Partners LLC acquired a new stake in Ares Dynamic Credit Allocation Fund in the second quarter valued at approximately $344,000. Sanctuary Advisors LLC purchased a new position in Ares Dynamic Credit Allocation Fund in the second quarter worth approximately $357,000. Finally, Curated Wealth Partners LLC grew its holdings in Ares Dynamic Credit Allocation Fund by 200.8% during the 2nd quarter. Curated Wealth Partners LLC now owns 86,324 shares of the company’s stock worth $1,285,000 after acquiring an additional 171,963 shares in the last quarter.

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.