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

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 158,219 shares, a decrease of 36.6% from the July 15th total of 249,490 shares. Based on an average daily volume of 637,233 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of institutional investors have recently bought and sold shares of ACP. BNP Paribas Financial Markets purchased a new position in shares of Abrdn Income Credit Strategies Fund during the third quarter valued at approximately $37,000. Bank of America Corp DE grew its stake 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 worth $39,000 after acquiring an additional 5,189 shares during the period. Advisory Services Network LLC acquired a new position in Abrdn Income Credit Strategies Fund in the 3rd quarter valued at $42,000. McIlrath & Eck LLC raised its holdings in Abrdn Income Credit Strategies Fund by 156.4% in the 1st quarter. McIlrath & Eck LLC now owns 9,098 shares of the investment management company’s stock valued at $46,000 after acquiring an additional 5,549 shares during the last quarter. Finally, LGT Financial Advisors LLC acquired a new position in Abrdn Income Credit Strategies Fund in the 3rd quarter valued at $55,000.

Abrdn Income Credit Strategies Fund Trading Up 0.9%

Shares of ACP stock traded up $0.04 during midday trading on Tuesday, hitting $5.18. The company had a trading volume of 813,114 shares, compared to its average volume of 534,686. The company’s 50 day simple moving average is $5.18 and its 200 day simple moving average is $5.31. Abrdn Income Credit Strategies Fund has a 52-week low of $4.99 and a 52-week high of $5.99.

Abrdn Income Credit Strategies Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.0775 per share. This represents a c) annualized dividend and a yield of 17.9%. The ex-dividend date is Monday, August 24th.

Abrdn Income Credit Strategies Fund Company Profile

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.