Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Short Interest Update
by Jessica Moore · The Cerbat GemAres Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 11,475 shares, a growth of 50.2% from the December 31st total of 7,642 shares. Based on an average trading volume of 125,351 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 125,351 shares, the short-interest ratio is currently 0.1 days.
Hedge Funds Weigh In On Ares Dynamic Credit Allocation Fund
Institutional investors and hedge funds have recently bought and sold shares of the business. AdvisorNet Financial Inc grew its position in Ares Dynamic Credit Allocation Fund by 35.7% in the third quarter. AdvisorNet Financial Inc now owns 319,133 shares of the company’s stock valued at $4,490,000 after purchasing an additional 84,013 shares in the last quarter. Shaker Financial Services LLC boosted its position in Ares Dynamic Credit Allocation Fund by 100.4% during the second quarter. Shaker Financial Services LLC now owns 106,790 shares of the company’s stock worth $1,519,000 after purchasing an additional 53,492 shares during the period. United Advisor Group LLC raised its holdings in Ares Dynamic Credit Allocation Fund by 1.6% in the 2nd quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock valued at $4,782,000 after acquiring an additional 5,435 shares during the period. Wolverine Asset Management LLC increased its stake in shares of Ares Dynamic Credit Allocation Fund by 247.3% during the second quarter. Wolverine Asset Management LLC now owns 67,150 shares of the company’s stock worth $955,000 after purchasing an additional 47,813 shares during the period. Finally, GoalVest Advisory LLC bought a new position in Ares Dynamic Credit Allocation Fund during the 2nd quarter worth $100,000.
Ares Dynamic Credit Allocation Fund Stock Down 0.2%
Shares of ARDC traded down $0.03 during midday trading on Monday, reaching $13.42. 149,802 shares of the stock were exchanged, compared to its average volume of 127,681. The business’s 50-day moving average price is $13.43 and its 200 day moving average price is $13.89. Ares Dynamic Credit Allocation Fund has a twelve month low of $11.52 and a twelve month high of $15.62.
Ares Dynamic Credit Allocation Fund Dividend Announcement
The business also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 20th were given a dividend of $0.1125 per share. The ex-dividend date was Tuesday, January 20th. This represents a c) dividend on an annualized basis and a yield of 10.1%.
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.