Abrdn Income Credit Strategies Fund (NYSE:ACP) Stock Price Up 0.5% Following Dividend Announcement

Abrdn Income Credit Strategies Fund (NYSE:ACP) shares were up 0.5% on Tuesday following a dividend announcement from the company. The stock traded as high as $6.47 and last traded at $6.46. Approximately 771,930 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 490,545 shares. The stock had previously closed at $6.42.

The newly announced dividend which will be paid on Friday, January 10th. Stockholders of record on Monday, December 30th will be given a dividend of $0.0775 per share. The ex-dividend date is Monday, December 30th. This represents a dividend yield of 19.4%.

Abrdn Income Credit Strategies Fund Stock Performance

The business has a 50-day moving average price of $6.50 and a 200 day moving average price of $6.56.

Institutional Trading of Abrdn Income Credit Strategies Fund

Several large investors have recently added to or reduced their stakes in ACP. Gilliland Jeter Wealth Management LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $26,000. ORG Partners LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $31,000. Denver PWM LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the 2nd quarter valued at $37,000. McIlrath & Eck LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $58,000. Finally, Duncan Williams Asset Management LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $67,000.

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.