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

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 187,300 shares, an increase of 29.8% from the October 15th total of 144,300 shares. Based on an average daily trading volume, of 647,600 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Abrdn Income Credit Strategies Fund

Several institutional investors and hedge funds have recently modified their holdings of ACP. Kennedy Investment Group acquired a new position in Abrdn Income Credit Strategies Fund in the 3rd quarter valued at about $5,730,000. Landscape Capital Management L.L.C. bought a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter worth approximately $3,070,000. Shaker Financial Services LLC acquired a new position in shares of Abrdn Income Credit Strategies Fund in the third quarter valued at approximately $2,940,000. Thrivent Financial for Lutherans bought a new position in shares of Abrdn Income Credit Strategies Fund during the third quarter worth approximately $2,246,000. Finally, Raymond James & Associates lifted its holdings in Abrdn Income Credit Strategies Fund by 723.9% during the 3rd quarter. Raymond James & Associates now owns 385,831 shares of the investment management company’s stock worth $2,554,000 after purchasing an additional 339,000 shares during the last quarter.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of NYSE ACP opened at $6.49 on Friday. Abrdn Income Credit Strategies Fund has a 12 month low of $6.05 and a 12 month high of $7.05. The stock has a 50 day moving average of $6.52 and a 200-day moving average of $6.60.

Abrdn Income Credit Strategies Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.20 dividend on an annualized basis and a yield of 18.49%.

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.