Abrdn Income Credit Strategies Fund (NYSE:ACP) Short Interest Update

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 35,100 shares, a decrease of 98.9% from the July 15th total of 3,090,000 shares. Based on an average trading volume of 493,100 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Abrdn Income Credit Strategies Fund

Several large investors have recently made changes to their positions in ACP. Shaker Financial Services LLC purchased a new position in shares of Abrdn Income Credit Strategies Fund during the 4th quarter valued at $1,661,000. Oxinas Partners Wealth Management LLC raised its holdings in Abrdn Income Credit Strategies Fund by 11.5% in the 1st quarter. Oxinas Partners Wealth Management LLC now owns 116,855 shares of the investment management company’s stock valued at $792,000 after acquiring an additional 12,040 shares in the last quarter. Arlington Capital Management Inc. bought a new stake in shares of Abrdn Income Credit Strategies Fund in the 1st quarter worth approximately $507,000. Worth Asset Management LLC increased its position in shares of Abrdn Income Credit Strategies Fund by 169.7% during the second quarter. Worth Asset Management LLC now owns 47,830 shares of the investment management company’s stock valued at $324,000 after purchasing an additional 30,095 shares during the period. Finally, High Net Worth Advisory Group LLC raised its stake in shares of Abrdn Income Credit Strategies Fund by 311.7% in the second quarter. High Net Worth Advisory Group LLC now owns 41,860 shares of the investment management company’s stock valued at $284,000 after purchasing an additional 31,693 shares in the last quarter.

Abrdn Income Credit Strategies Fund Price Performance

ACP remained flat at $6.36 during trading on Monday. The company had a trading volume of 215,858 shares, compared to its average volume of 404,578. Abrdn Income Credit Strategies Fund has a 52-week low of $5.55 and a 52-week high of $7.17. The business’s 50 day moving average price is $6.69 and its 200 day moving average price is $6.73.

Abrdn Income Credit Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 19th were paid a $0.10 dividend. The ex-dividend date was Friday, July 19th. This represents a $1.20 annualized dividend and a dividend yield of 18.87%.

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.