Abrdn Income Credit Strategies Fund (ACP) To Go Ex-Dividend on August 24th

Abrdn Income Credit Strategies Fund (NYSE:ACP) announced a monthly dividend on Tuesday, August 11th. Shareholders of record on Monday, August 24th will be paid a dividend of 0.0775 per share by the investment management company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 18.2%. The ex-dividend date is Monday, August 24th.

Abrdn Income Credit Strategies Fund Stock Performance

Abrdn Income Credit Strategies Fund stock opened at $5.11 on Friday. Abrdn Income Credit Strategies Fund has a twelve month low of $4.99 and a twelve month high of $5.96. The business has a fifty day moving average of $5.17 and a two-hundred day moving average of $5.30.

Hedge Funds Weigh In On Abrdn Income Credit Strategies Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of ACP. Private Advisor Group LLC lifted its position in Abrdn Income Credit Strategies Fund by 6.8% in the third 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 last quarter. Kestra Advisory Services LLC lifted its stake in shares of Abrdn Income Credit Strategies Fund by 4.7% in the fourth quarter. Kestra Advisory Services LLC now owns 63,633 shares of the investment management company’s stock valued at $344,000 after purchasing an additional 2,879 shares during the period. Concurrent Investment Advisors LLC boosted its stake 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 worth $130,000 after acquiring an additional 2,890 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Abrdn Income Credit Strategies Fund by 2.9% in the 2nd quarter. Cetera Investment Advisers now owns 112,938 shares of the investment management company’s stock worth $666,000 after buying an additional 3,209 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its position in shares of Abrdn Income Credit Strategies Fund by 3.2% in the fourth quarter. Founders Financial Alliance LLC now owns 128,516 shares of the investment management company’s stock valued at $695,000 after purchasing an additional 4,036 shares during the last quarter.

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.