Short Interest in Abrdn Income Credit Strategies Fund (NYSE:ACP) Decreases By 14.9%

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the recipient of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 170,486 shares, a decrease of 14.9% from the February 12th total of 200,256 shares. Based on an average trading volume of 591,525 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 591,525 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC lifted its holdings in Abrdn Income Credit Strategies Fund by 6.8% in the third quarter. Private Advisor Group LLC now owns 30,856 shares of the investment management company’s stock valued at $179,000 after acquiring an additional 1,960 shares during the period. NWF Advisory Services Inc. grew its stake in shares of Abrdn Income Credit Strategies Fund by 1.7% during the 2nd quarter. NWF Advisory Services Inc. now owns 118,164 shares of the investment management company’s stock worth $697,000 after purchasing an additional 1,978 shares during the period. Occidental Asset Management LLC increased its holdings in shares of Abrdn Income Credit Strategies Fund by 10.5% during the 3rd quarter. Occidental Asset Management LLC now owns 20,935 shares of the investment management company’s stock valued at $121,000 after purchasing an additional 1,991 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Abrdn Income Credit Strategies Fund by 5.0% during the 3rd quarter. Wedbush Securities Inc. now owns 49,268 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 2,331 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its stake in shares of Abrdn Income Credit Strategies Fund by 2.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 90,198 shares of the investment management company’s stock valued at $495,000 after purchasing an additional 2,513 shares during the period.

Abrdn Income Credit Strategies Fund Stock Down 0.9%

NYSE:ACP opened at $5.25 on Monday. Abrdn Income Credit Strategies Fund has a one year low of $4.92 and a one year high of $6.05. The firm’s fifty day moving average is $5.56 and its two-hundred day moving average is $5.58.

Abrdn Income Credit Strategies Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a $0.0775 dividend. The ex-dividend date is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a dividend yield of 17.7%.

About Abrdn Income Credit Strategies Fund

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.