Abrdn Income Credit Strategies Fund (NYSE:ACP) Stock Passes Above 200-Day Moving Average of $6.58

Shares of Abrdn Income Credit Strategies Fund (NYSE:ACP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.58 and traded as high as $6.75. Abrdn Income Credit Strategies Fund shares last traded at $6.72, with a volume of 368,460 shares trading hands.

Abrdn Income Credit Strategies Fund Price Performance

The company has a 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $6.58.

Abrdn Income Credit Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 23rd will be given a $0.10 dividend. The ex-dividend date is Monday, April 22nd. This represents a $1.20 annualized dividend and a yield of 17.96%.

Institutional Trading of Abrdn Income Credit Strategies Fund

Several hedge funds and other institutional investors have recently bought and sold shares of ACP. Advisors Asset Management Inc. bought a new stake in Abrdn Income Credit Strategies Fund in the first quarter valued at approximately $3,611,000. LPL Financial LLC raised its holdings in shares of Abrdn Income Credit Strategies Fund by 633.4% during the first quarter. LPL Financial LLC now owns 387,938 shares of the investment management company’s stock valued at $2,588,000 after acquiring an additional 335,043 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of Abrdn Income Credit Strategies Fund by 73.4% during the first quarter. Guggenheim Capital LLC now owns 629,658 shares of the investment management company’s stock valued at $6,164,000 after acquiring an additional 266,436 shares in the last quarter. Shaker Financial Services LLC bought a new position in shares of Abrdn Income Credit Strategies Fund during the fourth quarter valued at approximately $1,661,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of Abrdn Income Credit Strategies Fund during the first quarter valued at approximately $1,373,000.

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.