Short Interest in Abrdn Income Credit Strategies Fund (NYSE:ACP) Rises By 160.8%

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 123,100 shares, a growth of 160.8% from the August 15th total of 47,200 shares. Based on an average daily trading volume, of 611,500 shares, the short-interest ratio is currently 0.2 days.

Abrdn Income Credit Strategies Fund Price Performance

ACP stock traded up $0.05 during midday trading on Friday, reaching $6.51. The stock had a trading volume of 377,291 shares, compared to its average volume of 441,301. Abrdn Income Credit Strategies Fund has a twelve month low of $5.55 and a twelve month high of $7.17. The business has a fifty day simple moving average of $6.51 and a two-hundred day simple moving average of $6.67.

Abrdn Income Credit Strategies Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 18.43%. The ex-dividend date is Friday, September 20th.

Hedge Funds Weigh In On Abrdn Income Credit Strategies Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Denver PWM LLC acquired a new position in shares of Abrdn Income Credit Strategies Fund in the 2nd quarter valued at $37,000. Concurrent Investment Advisors LLC acquired a new position in Abrdn Income Credit Strategies Fund in the second quarter valued at about $201,000. SeaCrest Wealth Management LLC lifted its stake in Abrdn Income Credit Strategies Fund by 7.0% in the second quarter. SeaCrest Wealth Management LLC now owns 32,209 shares of the investment management company’s stock valued at $218,000 after buying an additional 2,111 shares during the period. High Net Worth Advisory Group LLC boosted its holdings in Abrdn Income Credit Strategies Fund by 311.7% during the second quarter. High Net Worth Advisory Group LLC now owns 41,860 shares of the investment management company’s stock worth $284,000 after buying an additional 31,693 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Abrdn Income Credit Strategies Fund during the 1st quarter worth about $143,000.

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.