Abrdn Income Credit Strategies Fund (NYSE:ACP) Short Interest Up 62.6% in April

Abrdn Income Credit Strategies Fund (NYSE:ACP) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 875,000 shares, an increase of 62.6% from the March 31st total of 538,200 shares. Based on an average daily volume of 333,100 shares, the days-to-cover ratio is presently 2.6 days.

Abrdn Income Credit Strategies Fund Stock Up 0.9 %

Shares of NYSE:ACP opened at $6.52 on Monday. The stock’s 50-day moving average is $6.76 and its 200-day moving average is $6.59. Abrdn Income Credit Strategies Fund has a 52-week low of $5.55 and a 52-week high of $7.17.

Abrdn Income Credit Strategies Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 23rd will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 18.40%. The ex-dividend date of this dividend is Monday, April 22nd.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

Several hedge funds have recently made changes to their positions in the stock. Shaker Financial Services LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund in the fourth quarter valued at about $1,661,000. Oxinas Partners Wealth Management LLC lifted its stake in shares of Abrdn Income Credit Strategies Fund by 11.5% in the first quarter. Oxinas Partners Wealth Management LLC now owns 116,855 shares of the investment management company’s stock valued at $792,000 after buying an additional 12,040 shares during the period. Arlington Capital Management Inc. bought a new stake in shares of Abrdn Income Credit Strategies Fund in the first quarter valued at about $507,000. SeaCrest Wealth Management LLC lifted its stake in Abrdn Income Credit Strategies Fund by 81.9% during the first quarter. SeaCrest Wealth Management LLC now owns 30,098 shares of the investment management company’s stock worth $204,000 after purchasing an additional 13,554 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in Abrdn Income Credit Strategies Fund during the third quarter valued at approximately $196,000.

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.