Abrdn Income Credit Strategies Fund (NYSE:ACP) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Abrdn Income Credit Strategies Fund (NYSE:ACP)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.62 and traded as high as $6.65. Abrdn Income Credit Strategies Fund shares last traded at $6.61, with a volume of 687,227 shares.

Abrdn Income Credit Strategies Fund Stock Up 0.2 %

The stock’s 50 day moving average is $6.48 and its two-hundred day moving average is $6.62.

Abrdn Income Credit Strategies Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 24th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 18.13%.

Institutional Trading of Abrdn Income Credit Strategies Fund

Hedge funds have recently bought and sold shares of the stock. Raymond James & Associates lifted its position 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 buying an additional 339,000 shares during the last quarter. Worth Asset Management LLC lifted its position in Abrdn Income Credit Strategies Fund by 134.2% during the third quarter. Worth Asset Management LLC now owns 112,032 shares of the investment management company’s stock valued at $742,000 after acquiring an additional 64,202 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in Abrdn Income Credit Strategies Fund by 122.7% in the third quarter. SeaCrest Wealth Management LLC now owns 71,733 shares of the investment management company’s stock valued at $475,000 after acquiring an additional 39,524 shares in the last quarter. High Net Worth Advisory Group LLC boosted its stake in Abrdn Income Credit Strategies Fund by 311.7% in the second quarter. High Net Worth Advisory Group LLC now owns 41,860 shares of the investment management company’s stock valued at $284,000 after acquiring an additional 31,693 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in Abrdn Income Credit Strategies Fund in the second quarter worth $201,000.

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.