Abrdn Income Credit Strategies Fund (NYSE:ACP) Short Interest Down 19.8% in February

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a large decrease in short interest in February. As of February 15th, there was short interest totalling 322,200 shares, a decrease of 19.8% from the January 31st total of 401,800 shares. Based on an average trading volume of 967,100 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

Institutional investors have recently bought and sold shares of the business. Total Wealth Planning & Management Inc. purchased a new position in shares of Abrdn Income Credit Strategies Fund in the fourth quarter valued at about $107,000. Cetera Investment Advisers lifted its holdings in Abrdn Income Credit Strategies Fund by 2.8% in the 4th quarter. Cetera Investment Advisers now owns 114,597 shares of the investment management company’s stock worth $684,000 after purchasing an additional 3,119 shares in the last quarter. CF Capital LLC bought a new position in Abrdn Income Credit Strategies Fund in the 4th quarter worth approximately $3,284,000. Almitas Capital LLC bought a new position in Abrdn Income Credit Strategies Fund in the 4th quarter worth approximately $185,000. Finally, Jane Street Group LLC grew its holdings in Abrdn Income Credit Strategies Fund by 30.2% during the 4th quarter. Jane Street Group LLC now owns 209,901 shares of the investment management company’s stock valued at $1,253,000 after buying an additional 48,735 shares in the last quarter.

Abrdn Income Credit Strategies Fund Price Performance

NYSE:ACP traded down $0.01 during trading hours on Wednesday, hitting $6.04. 458,347 shares of the stock traded hands, compared to its average volume of 637,287. Abrdn Income Credit Strategies Fund has a 1 year low of $5.81 and a 1 year high of $7.05. The stock has a 50 day moving average price of $6.06 and a 200 day moving average price of $6.30.

Abrdn Income Credit Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were paid a dividend of $0.0775 per share. This represents a $0.93 dividend on an annualized basis and a dividend yield of 15.41%. The ex-dividend date of this dividend was Friday, February 21st.

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.