Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 58,400 shares, a drop of 9.2% from the August 31st total of 64,300 shares. Based on an average daily trading volume, of 96,900 shares, the days-to-cover ratio is presently 0.6 days.
Ares Dynamic Credit Allocation Fund Price Performance
Shares of NYSE ARDC traded up $0.18 during trading on Friday, hitting $15.28. 80,892 shares of the company were exchanged, compared to its average volume of 102,225. Ares Dynamic Credit Allocation Fund has a 1 year low of $11.83 and a 1 year high of $15.49. The firm’s fifty day moving average price is $15.17 and its 200 day moving average price is $14.69.
Ares Dynamic Credit Allocation Fund Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date is Friday, September 20th.
Institutional Inflows and Outflows
About Ares Dynamic Credit Allocation Fund
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.
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