Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) Short Interest Update

Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 23,800 shares, a decrease of 28.7% from the August 31st total of 33,400 shares. Based on an average daily trading volume, of 84,900 shares, the short-interest ratio is presently 0.3 days.

Shares of Ares Dynamic Credit Allocation Fund stock traded up $0.08 on Thursday, reaching $12.76. 10,540 shares of the stock were exchanged, compared to its average volume of 127,089. Ares Dynamic Credit Allocation Fund has a 1-year low of $8.10 and a 1-year high of $15.91. The business has a fifty day moving average price of $12.74 and a two-hundred day moving average price of $11.78.

Several institutional investors have recently modified their holdings of ARDC. First Trust Advisors LP lifted its stake in shares of Ares Dynamic Credit Allocation Fund by 6.7% during the first quarter. First Trust Advisors LP now owns 296,124 shares of the company’s stock valued at $4,394,000 after buying an additional 18,589 shares during the period. Citigroup Inc. lifted its position in Ares Dynamic Credit Allocation Fund by 32.0% during the 1st quarter. Citigroup Inc. now owns 9,213 shares of the company’s stock valued at $100,000 after purchasing an additional 2,231 shares during the period. Parametric Portfolio Associates LLC lifted its position in Ares Dynamic Credit Allocation Fund by 25.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,312,481 shares of the company’s stock valued at $14,162,000 after purchasing an additional 267,716 shares during the period. Wells Fargo & Company MN lifted its position in Ares Dynamic Credit Allocation Fund by 7.4% during the 1st quarter. Wells Fargo & Company MN now owns 479,278 shares of the company’s stock valued at $5,171,000 after purchasing an additional 32,866 shares during the period. Finally, Cohen & Steers Inc. lifted its position in Ares Dynamic Credit Allocation Fund by 0.6% during the 1st quarter. Cohen & Steers Inc. now owns 434,506 shares of the company’s stock valued at $4,688,000 after purchasing an additional 2,744 shares during the period.

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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