Abrdn Income Credit Strategies Fund (NYSE:ACP) Short Interest Update

by · The Markets Daily

Abrdn Income Credit Strategies Fund (NYSE:ACP – Get Free Report) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 114,500 shares, a decrease of 64.5% from the February 13th total of 322,200 shares. Based on an average daily volume of 959,600 shares, the short-interest ratio is currently 0.1 days.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of Abrdn Income Credit Strategies Fund stock traded down $0.04 during midday trading on Thursday, reaching $5.93. The company had a trading volume of 334,842 shares, compared to its average volume of 641,495. The stock has a fifty day simple moving average of $6.06 and a 200 day simple moving average of $6.28. Abrdn Income Credit Strategies Fund has a 1-year low of $5.81 and a 1-year high of $7.05.

Abrdn Income Credit Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.0775 per share. This represents a $0.93 annualized dividend and a dividend yield of 15.70%. The ex-dividend date is Tuesday, March 25th.

Institutional Trading of Abrdn Income Credit Strategies Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its stake in shares of Abrdn Income Credit Strategies Fund by 25.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 101,083 shares of the investment management company’s stock valued at $669,000 after purchasing an additional 20,736 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in Abrdn Income Credit Strategies Fund by 24.0% in the third quarter. Insigneo Advisory Services LLC now owns 14,865 shares of the investment management company’s stock valued at $98,000 after acquiring an additional 2,873 shares during the last quarter. Rivernorth Capital Management LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the 3rd quarter worth $25,387,000. Quarry LP bought a new stake in shares of Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $1,651,000. Finally, Royal Capital Wealth Management LLC acquired a new position in shares of Abrdn Income Credit Strategies Fund in the 3rd quarter valued at $80,000.

Abrdn Income Credit Strategies Fund Company Profile

(Get Free Report)

Abrdn Income Credit Strategies Fund is a closed-ended fixed income fund launched and managed by Aberdeen Asset Managers Limited. It is co-managed by Aberdeen Standard Investments Inc The fund invests in fixed income markets across the globe. It seeks to invest primarily in loan and debt instruments. Abrdn Income Credit Strategies Fund was formed on October 12, 2010 and is domiciled in the United States.

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