Abrdn Income Credit Strategies Fund (NYSE:ACP) Short Interest Down 64.5% in February

Abrdn Income Credit Strategies Fund (NYSE:ACP) 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 trading volume, of 959,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

Hedge funds have recently modified their holdings of the business. Aptus Capital Advisors LLC grew its holdings in shares of Abrdn Income Credit Strategies Fund by 3.0% during the third quarter. Aptus Capital Advisors LLC now owns 114,766 shares of the investment management company’s stock valued at $760,000 after buying an additional 3,384 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Abrdn Income Credit Strategies Fund during the 3rd quarter valued at about $376,000. Thrivent Financial for Lutherans acquired a new position in shares of Abrdn Income Credit Strategies Fund in the 3rd quarter valued at about $2,246,000. Drive Wealth Management LLC purchased a new stake in shares of Abrdn Income Credit Strategies Fund in the third quarter worth approximately $1,642,000. Finally, Moors & Cabot Inc. boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 13.7% during the third quarter. Moors & Cabot Inc. now owns 24,907 shares of the investment management company’s stock worth $165,000 after purchasing an additional 3,007 shares during the period.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of Abrdn Income Credit Strategies Fund stock traded down $0.01 during trading on Friday, hitting $5.93. The stock had a trading volume of 737,850 shares, compared to its average volume of 644,864. 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 simple moving average of $6.06 and a 200 day simple moving average of $6.28.

Abrdn Income Credit Strategies Fund Announces Dividend

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

Abrdn Income Credit Strategies Fund Company Profile

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.