Abrdn Income Credit Strategies Fund (NYSE:ACP) Sees Significant Decrease in Short Interest

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 144,300 shares, a decrease of 8.5% from the September 30th total of 157,700 shares. Based on an average daily volume of 703,900 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of large investors have recently made changes to their positions in the stock. Kennedy Investment Group acquired a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter valued at $5,730,000. Shaker Financial Services LLC acquired a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter valued at $2,940,000. Raymond James & Associates boosted its stake in shares of Abrdn Income Credit Strategies Fund by 723.9% during the third quarter. Raymond James & Associates now owns 385,831 shares of the investment management company’s stock valued at $2,554,000 after acquiring an additional 339,000 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Abrdn Income Credit Strategies Fund by 9.2% during the third quarter. Capital Investment Advisors LLC now owns 326,444 shares of the investment management company’s stock valued at $2,161,000 after acquiring an additional 27,470 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter valued at $867,000.

Abrdn Income Credit Strategies Fund Stock Up 0.2 %

Abrdn Income Credit Strategies Fund stock traded up $0.01 during trading hours on Thursday, hitting $6.49. The stock had a trading volume of 728,350 shares, compared to its average volume of 475,732. Abrdn Income Credit Strategies Fund has a 1-year low of $5.66 and a 1-year high of $7.05. The stock’s fifty day moving average is $6.50 and its two-hundred day moving average is $6.60.

Abrdn Income Credit Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 24th will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 18.49%. The ex-dividend date is Thursday, October 24th.

About Abrdn Income Credit Strategies Fund

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.