Abrdn Income Credit Strategies Fund (NYSE:ACP) Sees Significant Increase in Short Interest

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 401,800 shares, an increase of 114.0% from the January 15th total of 187,800 shares. Based on an average daily volume of 950,400 shares, the short-interest ratio is presently 0.4 days.

Abrdn Income Credit Strategies Fund Stock Performance

Abrdn Income Credit Strategies Fund stock opened at $6.19 on Friday. Abrdn Income Credit Strategies Fund has a 12-month low of $5.81 and a 12-month high of $7.05. The company has a 50-day moving average price of $6.04 and a 200 day moving average price of $6.32.

Abrdn Income Credit Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be given a dividend of $0.0775 per share. This represents a $0.93 annualized dividend and a yield of 15.04%. The ex-dividend date is Friday, February 21st.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gilliland Jeter Wealth Management LLC purchased a new position in Abrdn Income Credit Strategies Fund during the third quarter worth about $26,000. ORG Partners LLC purchased a new position in Abrdn Income Credit Strategies Fund during the third quarter worth about $31,000. McIlrath & Eck LLC purchased a new position in Abrdn Income Credit Strategies Fund during the third quarter worth about $58,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Abrdn Income Credit Strategies Fund during the fourth quarter worth about $60,000. Finally, Naviter Wealth LLC purchased a new position in Abrdn Income Credit Strategies Fund during the fourth quarter worth about $65,000.

About Abrdn Income Credit Strategies Fund

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.