Abrdn Income Credit Strategies Fund (NYSE:ACP – Get Free Report) declared a monthly dividend on Friday, September 11th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of 0.055 per share by the investment management company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 14.1%. The ex-dividend date of this dividend is Tuesday, September 22nd.
Abrdn Income Credit Strategies Fund Stock Down 0.3%
Shares of ACP stock opened at $4.67 on Friday. The business’s fifty day moving average is $5.04 and its 200 day moving average is $5.20. Abrdn Income Credit Strategies Fund has a twelve month low of $4.50 and a twelve month high of $5.93.
Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund
Several hedge funds have recently bought and sold shares of ACP. Arlington Capital Management Inc. increased its stake in shares of Abrdn Income Credit Strategies Fund by 7.1% during the second quarter. Arlington Capital Management Inc. now owns 173,445 shares of the investment management company’s stock valued at $902,000 after purchasing an additional 11,534 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Abrdn Income Credit Strategies Fund by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 199,777 shares of the investment management company’s stock worth $1,039,000 after purchasing an additional 10,805 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Abrdn Income Credit Strategies Fund in the 2nd quarter worth approximately $52,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Abrdn Income Credit Strategies Fund in the 2nd quarter worth approximately $55,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in Abrdn Income Credit Strategies Fund during the 2nd quarter valued at approximately $416,000.
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.
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