Ares Capital Corporation (ARCC) : The short interest in Ares Capital Corporation (ARCC) has increased from 24,633,981 to 25,719,170 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 1,775,670 shares are traded daily in the stock and only 14 days are left for the shorts to cover. The short open interest is 8.3% of the total shares in the hands of the public. The shorts in the stock have gone up by 1,085,189 shares, which is an increase of 4.4% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Ares Capital Corporation (NASDAQ:ARCC): The stock was completely flat for the day, closing at $15.92 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $15.95, the stock touched an intraday high of $15.97 and a low of $15.86. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $15.92. The total trading volume on Wednesday was 1,600,997.
In a related news, Goldstein Mitchell S, officer (Co-President) of Ares Capital Corp had purchased 6,472 shares on August 15, 2016 in a transaction. The price per share was $15.45 and the total amount of the disclosed transaction was $99,992.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Ares Capital Corporation is a specialty finance company that is engaged in closed-end, non-diversified management investment businesses. The Companys investment objective is to generate both current income and capital appreciation through debt and equity investments, investing invest primarily in United States middle-market companies. The Company primarily has three areas of focus: Corporate, non-syndicated senior debt, mezzanine debt and non-control equity to middle-market companies; Project Finance: high yield senior and mezzanine debt to finance power generation projects; Venture Finance, senior secured loans to early-stage and emerging growth companies backed by venture capital firms. The Company invests in sectors, such as Healthcare Services, Business Services, Education, Energy, Restaurants and Food Services, Financial Services among others. The Company is externally managed by its investment adviser, Ares Capital Management LLC.