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

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 414,261 shares, an increase of 160.3% from the December 31st total of 159,121 shares. Based on an average daily trading volume, of 634,568 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 634,568 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Abrdn Income Credit Strategies Fund during the 3rd quarter valued at $37,000. Bank of America Corp DE increased its position in Abrdn Income Credit Strategies Fund by 354.9% during the 3rd quarter. Bank of America Corp DE now owns 6,651 shares of the investment management company’s stock valued at $39,000 after purchasing an additional 5,189 shares during the period. Ameritas Advisory Services LLC bought a new position in Abrdn Income Credit Strategies Fund during the second quarter worth $40,000. Advisory Services Network LLC bought a new position in shares of Abrdn Income Credit Strategies Fund in the 3rd quarter worth about $42,000. Finally, Huntington National Bank boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 1,331.8% during the 3rd quarter. Huntington National Bank now owns 8,362 shares of the investment management company’s stock worth $48,000 after buying an additional 7,778 shares in the last quarter.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of NYSE:ACP traded up $0.01 during trading on Friday, reaching $5.60. 446,994 shares of the company traded hands, compared to its average volume of 674,580. Abrdn Income Credit Strategies Fund has a 52 week low of $4.92 and a 52 week high of $6.28. The company’s 50 day moving average is $5.47 and its two-hundred day moving average is $5.67.

Abrdn Income Credit Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.0775 per share. The ex-dividend date was Friday, January 23rd. This represents a c) annualized dividend and a yield of 16.6%.

Abrdn Income Credit Strategies Fund Company Profile

Abrdn Income Credit Strategies Fund (NYSE: ACP) is a diversified, closed-end management investment company that seeks to provide investors with high current income and capital appreciation. The fund primarily invests in a broad range of credit instruments, including investment-grade corporate bonds, high-yield debt, bank loans and emerging-market debt securities. To enhance returns, the fund may employ leverage and use derivatives for hedging or efficient portfolio management.

The fund’s investment approach combines top-down credit allocation with bottom-up security selection.