Traders are feeling more bullish on the company recently looking at the downtick in short interest. The firm had a fall in short interest of -7.16% between September 29, 2017 and October 13, 2017. Short shares fell from 17,116 to 15,891 over that period.
Here are a few substantial investment firms who have updated their positions. Ubs Group Ag trimmed its holdings by shedding 880,952 shares a decrease of 99.9% as of 06/30/2017. Ubs Group Ag now controls 698 shares with a value of $11,000. The value of the position overall is down by 99.9%. Capital Investment Advisors, LLC expanded its investment by buying 122,902 shares an increase of 1,228.7% from 06/30/2017 to 09/30/2017. Capital Investment Advisors, LLC owns 132,905 shares worth $2,180,000. The total value of its holdings increased 1,229.3%.
As of the end of the quarter First Trust Advisors Lp had bought 23,184 shares growing its stake by 15.7%. The value in dollars increased from $2,420,000 to $2,807,000 increasing 16.0% quarter to quarter. As of quarter end Raymond James Financial Services Advisors, Inc. had disposed of a total of 4,126 shares trimming its position 6.5%. The value of the investment in Ares Dynamic Credit Allocation went from $1,034,000 to $970,000 a change of $64,000 since the last quarter.
The company is now down since yesterday’s close of $16.45. Company shares are trading at $16.45 a bit higher than the 50 day moving average which is $16.38 and barely above the 200 day moving average of $16.29. The 50 day moving average was up $0.07 and the 200 day average went up by +0.95%.
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. It focuses on such factors as the overall macroeconomic environment, financial markets, and company specific research and analysis, to create its portfolio. Ares Dynamic Credit Allocation Fund, Inc. was formed on November 27, 2012 and is domiciled in the United States..Advertisement