Short Interest in Abrdn Income Credit Strategies Fund (NYSE:ACP) Rises By 32.2%

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 151,400 shares, a growth of 32.2% from the February 28th total of 114,500 shares. Based on an average daily volume of 806,000 shares, the short-interest ratio is presently 0.2 days.

Abrdn Income Credit Strategies Fund Trading Down 0.6 %

ACP traded down $0.04 during trading on Monday, hitting $5.88. 589,639 shares of the stock were exchanged, compared to its average volume of 654,131. Abrdn Income Credit Strategies Fund has a 1 year low of $5.61 and a 1 year high of $7.03. The firm has a 50 day simple moving average of $6.04 and a 200 day simple moving average of $6.24.

Abrdn Income Credit Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.0775 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.93 annualized dividend and a yield of 15.83%.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass More Asset Management acquired a new stake in shares of Abrdn Income Credit Strategies Fund in the fourth quarter valued at $67,000. SeaCrest Wealth Management LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 17.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 84,172 shares of the investment management company’s stock valued at $503,000 after acquiring an additional 12,439 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of Abrdn Income Credit Strategies Fund in the third quarter valued at $58,000. Rivernorth Capital Management LLC acquired a new position in Abrdn Income Credit Strategies Fund in the third quarter valued at $27,299,000. Finally, Jane Street Group LLC grew its position in Abrdn Income Credit Strategies Fund by 714.1% during the third quarter. Jane Street Group LLC now owns 161,166 shares of the investment management company’s stock valued at $1,067,000 after acquiring an additional 141,370 shares during the period.

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.