Abrdn Income Credit Strategies Fund (NYSE:ACP) to Issue Monthly Dividend of $0.06

Abrdn Income Credit Strategies Fund (NYSE:ACP) announced a monthly dividend on Friday, October 9th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.0550 per share by the investment management company on Friday, October 30th. This represents a $0.66 dividend on an annualized basis and a yield of 15.3%. The ex-dividend date of this dividend is Friday, October 23rd.

Abrdn Income Credit Strategies Fund Trading Up 0.1%

ACP traded up $0.01 during midday trading on Wednesday, hitting $4.30. The company had a trading volume of 121,933 shares, compared to its average volume of 625,873. Abrdn Income Credit Strategies Fund has a twelve month low of $4.26 and a twelve month high of $5.76. The firm’s 50-day simple moving average is $4.73 and its 200-day simple moving average is $5.07.

Institutional Trading of Abrdn Income Credit Strategies Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Oxbow Advisors LLC bought a new position in shares of Abrdn Income Credit Strategies Fund during the 2nd quarter worth approximately $144,000. Occidental Asset Management LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund in the second quarter worth $129,000. Global Retirement Partners LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund in the second quarter worth $334,000. McIlrath & Eck LLC boosted its holdings in Abrdn Income Credit Strategies Fund by 156.4% during the first quarter. McIlrath & Eck LLC now owns 9,098 shares of the investment management company’s stock worth $46,000 after purchasing an additional 5,549 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Abrdn Income Credit Strategies Fund during the first quarter worth $66,000.

About Abrdn Income Credit Strategies Fund

abrdn Income Credit Strategies Fund (NYSE: ACP) is a non-diversified, closed-end investment company that seeks to provide a high level of current income, with total return as a secondary objective. The fund is managed by abrdn, a global investment management firm.

The fund invests primarily in credit-related securities and other income-producing instruments issued by companies and governments in the United States and international markets. Its portfolio may include below-investment-grade corporate debt, floating-rate loans, bonds, structured credit investments and other fixed-income securities.