Abrdn Income Credit Strategies Fund (ACP) To Go Ex-Dividend on May 21st

Abrdn Income Credit Strategies Fund (NYSE:ACP) declared a monthly dividend on Monday, May 11th. Stockholders of record on Thursday, May 21st will be given a dividend of 0.0775 per share by the investment management company on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 17.4%. The ex-dividend date of this dividend is Thursday, May 21st.

Abrdn Income Credit Strategies Fund Stock Down 0.5%

NYSE ACP opened at $5.34 on Tuesday. Abrdn Income Credit Strategies Fund has a one year low of $4.99 and a one year high of $5.99. The company has a 50-day simple moving average of $5.29 and a 200-day simple moving average of $5.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in Abrdn Income Credit Strategies Fund in the 3rd quarter valued at about $37,000. Bank of America Corp DE lifted its position in Abrdn Income Credit Strategies Fund by 354.9% in the 3rd quarter. Bank of America Corp DE now owns 6,651 shares of the investment management company’s stock valued at $39,000 after purchasing an additional 5,189 shares during the last quarter. Advisory Services Network LLC bought a new stake in Abrdn Income Credit Strategies Fund in the 3rd quarter valued at about $42,000. Huntington National Bank lifted its position in Abrdn Income Credit Strategies Fund by 1,331.8% in the 3rd quarter. Huntington National Bank now owns 8,362 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 7,778 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in Abrdn Income Credit Strategies Fund in the 1st quarter valued at about $52,000.

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.