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

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 151,400 shares, a growth of 32.2% from the February 28th total of 114,500 shares. Based on an average trading volume of 806,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

A number of institutional investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC acquired a new position in shares of Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $27,299,000. Absolute Investment Advisers LLC acquired a new position in Abrdn Income Credit Strategies Fund during the fourth quarter worth about $9,674,000. Sit Investment Associates Inc. raised its position in Abrdn Income Credit Strategies Fund by 149.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,861,797 shares of the investment management company’s stock worth $11,115,000 after acquiring an additional 1,114,406 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Abrdn Income Credit Strategies Fund in the 4th quarter valued at about $3,950,000. Finally, CF Capital LLC bought a new position in shares of Abrdn Income Credit Strategies Fund during the 4th quarter valued at about $3,284,000.

Abrdn Income Credit Strategies Fund Price Performance

Shares of ACP traded down $0.02 during trading hours on Tuesday, reaching $5.88. 427,672 shares of the company’s stock traded hands, compared to its average volume of 654,412. The business’s fifty day simple moving average is $6.04 and its two-hundred day simple moving average is $6.23. Abrdn Income Credit Strategies Fund has a twelve month low of $5.81 and a twelve month high of $7.03.

Abrdn Income Credit Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were issued a $0.0775 dividend. This represents a $0.93 annualized dividend and a dividend yield of 15.83%. The ex-dividend date of this dividend was Tuesday, March 25th.

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.