Short Interest in Abrdn Income Credit Strategies Fund (NYSE:ACP) Declines By 19.8%

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 322,200 shares, a decline of 19.8% from the January 31st total of 401,800 shares. Based on an average daily trading volume, of 967,100 shares, the days-to-cover ratio is currently 0.3 days.

Abrdn Income Credit Strategies Fund Price Performance

Shares of Abrdn Income Credit Strategies Fund stock traded down $0.03 on Tuesday, reaching $6.03. The stock had a trading volume of 644,209 shares, compared to its average volume of 636,059. The business’s 50-day moving average price is $6.06 and its two-hundred day moving average price is $6.30. Abrdn Income Credit Strategies Fund has a fifty-two week low of $5.81 and a fifty-two week high of $7.05.

Abrdn Income Credit Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a $0.0775 dividend. This represents a $0.93 dividend on an annualized basis and a dividend yield of 15.44%. The ex-dividend date was Friday, February 21st.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of institutional investors and hedge funds have recently modified their holdings of ACP. McIlrath & Eck LLC acquired a new position in Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $58,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Abrdn Income Credit Strategies Fund in the 4th quarter worth about $60,000. Naviter Wealth LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund in the 4th quarter worth about $65,000. Encompass More Asset Management bought a new stake in shares of Abrdn Income Credit Strategies Fund in the 4th quarter worth about $67,000. Finally, Private Advisor Group LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund in the 3rd quarter worth about $68,000.

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.