Abrdn Income Credit Strategies Fund (NYSE:ACP) Announces Monthly Dividend of $0.08

Abrdn Income Credit Strategies Fund (NYSE:ACP) announced a monthly dividend on Tuesday, June 9th. Stockholders of record on Tuesday, June 23rd will be given a dividend of 0.0775 per share by the investment management company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 17.7%. The ex-dividend date is Tuesday, June 23rd.

Abrdn Income Credit Strategies Fund Trading Up 0.3%

NYSE:ACP opened at $5.27 on Wednesday. The stock has a fifty day moving average price of $5.30 and a 200-day moving average price of $5.41. Abrdn Income Credit Strategies Fund has a fifty-two week low of $4.99 and a fifty-two week high of $5.99.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 6.8% during the 3rd quarter. Private Advisor Group LLC now owns 30,856 shares of the investment management company’s stock valued at $179,000 after acquiring an additional 1,960 shares during the period. Wedbush Securities Inc. lifted its position in shares of Abrdn Income Credit Strategies Fund by 5.0% during the 3rd quarter. Wedbush Securities Inc. now owns 49,268 shares of the investment management company’s stock valued at $286,000 after acquiring an additional 2,331 shares during the period. SeaCrest Wealth Management LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 2.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 90,198 shares of the investment management company’s stock valued at $495,000 after acquiring an additional 2,513 shares during the period. Kestra Advisory Services LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 4.7% during the 4th quarter. Kestra Advisory Services LLC now owns 63,633 shares of the investment management company’s stock valued at $344,000 after acquiring an additional 2,879 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 13.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 24,112 shares of the investment management company’s stock valued at $130,000 after acquiring an additional 2,890 shares during the period.

About Abrdn Income Credit Strategies Fund

Abrdn Income Credit Strategies Fund (NYSE: ACP) is a diversified, closed-end management investment company that seeks to provide investors with high current income and capital appreciation. The fund primarily invests in a broad range of credit instruments, including investment-grade corporate bonds, high-yield debt, bank loans and emerging-market debt securities. To enhance returns, the fund may employ leverage and use derivatives for hedging or efficient portfolio management.

The fund’s investment approach combines top-down credit allocation with bottom-up security selection.