Abrdn Income Credit Strategies Fund (NYSE:ACP) Short Interest Up 453.8% in December

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 269,700 shares, an increase of 453.8% from the December 15th total of 48,700 shares. Based on an average daily trading volume, of 864,500 shares, the short-interest ratio is presently 0.3 days.

Abrdn Income Credit Strategies Fund Stock Up 1.3 %

Shares of NYSE ACP traded up $0.08 during mid-day trading on Tuesday, reaching $6.05. The company had a trading volume of 775,773 shares, compared to its average volume of 987,272. Abrdn Income Credit Strategies Fund has a one year low of $5.81 and a one year high of $7.05. The business’s 50-day simple moving average is $6.23 and its 200 day simple moving average is $6.43.

Abrdn Income Credit Strategies Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th 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 15.38%. The ex-dividend date of this dividend is Friday, January 24th.

Institutional Trading of Abrdn Income Credit Strategies Fund

Large investors have recently made changes to their positions in the company. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter worth $26,000. Capital Investment Advisors LLC increased its holdings in Abrdn Income Credit Strategies Fund by 9.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 326,444 shares of the investment management company’s stock worth $2,161,000 after purchasing an additional 27,470 shares in the last quarter. NBC Securities Inc. raised its position in Abrdn Income Credit Strategies Fund by 41.0% in the third quarter. NBC Securities Inc. now owns 20,650 shares of the investment management company’s stock valued at $136,000 after purchasing an additional 6,000 shares during the last quarter. E&G Advisors LP acquired a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter valued at about $105,000. Finally, SeaCrest Wealth Management LLC grew its holdings in shares of Abrdn Income Credit Strategies Fund by 122.7% during the third quarter. SeaCrest Wealth Management LLC now owns 71,733 shares of the investment management company’s stock worth $475,000 after purchasing an additional 39,524 shares during the last quarter.

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.