Abrdn Income Credit Strategies Fund (NYSE:ACP) Sees Significant Increase in Short Interest

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 151,400 shares, a growth of 32.2% from the February 28th total of 114,500 shares. Based on an average trading volume of 806,000 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of hedge funds have recently bought and sold shares of ACP. Halbert Hargrove Global Advisors LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 20.3% in the 4th quarter. Halbert Hargrove Global Advisors LLC now owns 12,435 shares of the investment management company’s stock valued at $74,000 after acquiring an additional 2,100 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Abrdn Income Credit Strategies Fund by 10.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 23,494 shares of the investment management company’s stock valued at $140,000 after purchasing an additional 2,206 shares in the last quarter. Mariner LLC boosted its position in shares of Abrdn Income Credit Strategies Fund by 5.1% in the fourth quarter. Mariner LLC now owns 54,196 shares of the investment management company’s stock worth $324,000 after buying an additional 2,613 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Abrdn Income Credit Strategies Fund by 4.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 59,506 shares of the investment management company’s stock valued at $355,000 after buying an additional 2,682 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its position in Abrdn Income Credit Strategies Fund by 24.0% during the third quarter. Insigneo Advisory Services LLC now owns 14,865 shares of the investment management company’s stock valued at $98,000 after buying an additional 2,873 shares during the period.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of ACP traded down $0.02 during trading hours on Tuesday, hitting $5.88. 427,672 shares of the company were exchanged, compared to its average volume of 654,412. The firm has a fifty day simple moving average of $6.04 and a 200-day simple moving average of $6.23. Abrdn Income Credit Strategies Fund has a one year low of $5.81 and a one year high of $7.03.

Abrdn Income Credit Strategies Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 25th were paid a $0.0775 dividend. The ex-dividend date was Tuesday, March 25th. This represents a $0.93 dividend on an annualized basis and a yield of 15.83%.

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.