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

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 401,800 shares, a growth of 114.0% from the January 15th total of 187,800 shares. Based on an average daily volume of 950,400 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

Several hedge funds have recently modified their holdings of the stock. Arlington Capital Management Inc. lifted its position in shares of Abrdn Income Credit Strategies Fund by 17.6% during the 3rd quarter. Arlington Capital Management Inc. now owns 84,604 shares of the investment management company’s stock valued at $560,000 after acquiring an additional 12,674 shares during the period. PFG Investments LLC bought a new stake in Abrdn Income Credit Strategies Fund in the third quarter valued at $77,000. Sequoia Financial Advisors LLC acquired a new position in shares of Abrdn Income Credit Strategies Fund during the third quarter valued at about $92,000. J.W. Cole Advisors Inc. bought a new position in shares of Abrdn Income Credit Strategies Fund during the 3rd quarter worth about $867,000. Finally, Whittier Trust Co. acquired a new stake in shares of Abrdn Income Credit Strategies Fund in the 3rd quarter valued at about $270,000.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of Abrdn Income Credit Strategies Fund stock opened at $6.19 on Friday. The stock’s 50-day moving average is $6.04 and its 200 day moving average is $6.32. Abrdn Income Credit Strategies Fund has a one year low of $5.81 and a one year high of $7.05.

Abrdn Income Credit Strategies Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.0775 per share. This represents a $0.93 dividend on an annualized basis and a dividend yield of 15.04%. The ex-dividend date of this dividend is Friday, February 21st.

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.