Short Interest in Abrdn Income Credit Strategies Fund (NYSE:ACP) Grows By 62.6%

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 875,000 shares, a growth of 62.6% from the March 31st total of 538,200 shares. Based on an average daily trading volume, of 333,100 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

Several institutional investors have recently modified their holdings of the stock. Shaker Financial Services LLC purchased a new stake in shares of Abrdn Income Credit Strategies Fund during the 4th quarter worth approximately $1,661,000. Oxinas Partners Wealth Management LLC increased its holdings in shares of Abrdn Income Credit Strategies Fund by 11.5% in the 1st quarter. Oxinas Partners Wealth Management LLC now owns 116,855 shares of the investment management company’s stock valued at $792,000 after acquiring an additional 12,040 shares during the period. Arlington Capital Management Inc. acquired a new position in shares of Abrdn Income Credit Strategies Fund in the 1st quarter valued at $507,000. SeaCrest Wealth Management LLC increased its holdings in shares of Abrdn Income Credit Strategies Fund by 81.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 30,098 shares of the investment management company’s stock valued at $204,000 after acquiring an additional 13,554 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Abrdn Income Credit Strategies Fund in the 3rd quarter valued at $196,000.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of NYSE:ACP opened at $6.52 on Friday. Abrdn Income Credit Strategies Fund has a twelve month low of $5.55 and a twelve month high of $7.17. The firm has a 50 day simple moving average of $6.76 and a 200-day simple moving average of $6.59.

Abrdn Income Credit Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.10 per share. The ex-dividend date is Monday, April 22nd. This represents a $1.20 annualized dividend and a dividend yield of 18.40%.

Abrdn Income Credit Strategies Fund Company Profile

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.