Abrdn Income Credit Strategies Fund (NYSE:ACP) Short Interest Update

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totaling 138,074 shares, a drop of 16.6% from the March 31st total of 165,633 shares. Based on an average daily trading volume, of 634,429 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Private Advisor Group LLC increased its stake in shares of Abrdn Income Credit Strategies Fund by 6.8% during the 3rd quarter. Private Advisor Group LLC now owns 30,856 shares of the investment management company’s stock worth $179,000 after purchasing an additional 1,960 shares in the last quarter. Occidental Asset Management LLC increased its stake 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 worth $121,000 after purchasing an additional 1,991 shares in the last quarter. Wedbush Securities Inc. increased its stake 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 worth $286,000 after purchasing an additional 2,331 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of Abrdn Income Credit Strategies Fund by 2.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 90,198 shares of the investment management company’s stock worth $495,000 after purchasing an additional 2,513 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in Abrdn Income Credit Strategies Fund by 4.7% during the 4th quarter. Kestra Advisory Services LLC now owns 63,633 shares of the investment management company’s stock worth $344,000 after purchasing an additional 2,879 shares in the last quarter.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of ACP stock opened at $5.43 on Friday. Abrdn Income Credit Strategies Fund has a fifty-two week low of $4.99 and a fifty-two week high of $5.99. The business has a fifty day simple moving average of $5.33 and a 200-day simple moving average of $5.45.

Abrdn Income Credit Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were given a $0.0775 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 17.1%.

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.