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

Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) saw a large decrease in short interest in the month of March. As of March 13th, there was short interest totalling 4,400 shares, a decrease of 81.7% from the February 27th total of 24,100 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 118,400 shares, the days-to-cover ratio is currently 0.0 days.

NYSE:ARDC traded down $0.61 during midday trading on Thursday, hitting $10.40. The company’s stock had a trading volume of 496,236 shares, compared to its average volume of 171,233. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $8.10 and a fifty-two week high of $15.91. The firm’s 50 day moving average is $13.83 and its 200-day moving average is $14.71.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be given a $0.1075 dividend. The ex-dividend date is Thursday, March 19th. This represents a $1.29 annualized dividend and a yield of 12.40%.

A number of institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC boosted its position in Ares Dynamic Credit Allocation Fund by 5.9% in the 4th quarter. Lindbrook Capital LLC now owns 22,229 shares of the company’s stock worth $341,000 after purchasing an additional 1,229 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Ares Dynamic Credit Allocation Fund by 18.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 16,900 shares of the company’s stock worth $259,000 after purchasing an additional 2,600 shares in the last quarter. Citigroup Inc. boosted its position in Ares Dynamic Credit Allocation Fund by 974.2% in the 4th quarter. Citigroup Inc. now owns 6,982 shares of the company’s stock worth $107,000 after purchasing an additional 6,332 shares in the last quarter. Capital Investment Advisors LLC boosted its position in Ares Dynamic Credit Allocation Fund by 4.7% in the 4th quarter. Capital Investment Advisors LLC now owns 169,465 shares of the company’s stock worth $2,601,000 after purchasing an additional 7,539 shares in the last quarter. Finally, E&G Advisors LP boosted its position in Ares Dynamic Credit Allocation Fund by 61.5% in the 4th quarter. E&G Advisors LP now owns 23,900 shares of the company’s stock worth $367,000 after purchasing an additional 9,100 shares in the last quarter.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.

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