Abrdn Income Credit Strategies Fund (NYSE:ACP) Declares Monthly Dividend of $0.08

Abrdn Income Credit Strategies Fund (NYSE:ACP) declared a monthly dividend on Friday, July 10th. Stockholders of record on Thursday, July 23rd will be paid a dividend of 0.0775 per share by the investment management company on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 17.6%. The ex-dividend date is Thursday, July 23rd.

Abrdn Income Credit Strategies Fund Trading Up 2.4%

Shares of Abrdn Income Credit Strategies Fund stock opened at $5.29 on Tuesday. The business has a 50-day moving average price of $5.26 and a two-hundred day moving average price of $5.37. Abrdn Income Credit Strategies Fund has a 1-year low of $4.99 and a 1-year high of $5.99.

Hedge Funds Weigh In On Abrdn Income Credit Strategies Fund

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in Abrdn Income Credit Strategies Fund during the third quarter worth $37,000. Bank of America Corp DE lifted its stake in Abrdn Income Credit Strategies Fund by 354.9% during the 3rd quarter. Bank of America Corp DE now owns 6,651 shares of the investment management company’s stock valued at $39,000 after acquiring an additional 5,189 shares in the last quarter. Advisory Services Network LLC purchased a new position in Abrdn Income Credit Strategies Fund during the 3rd quarter worth $42,000. McIlrath & Eck LLC boosted its holdings in Abrdn Income Credit Strategies Fund by 156.4% during the 1st quarter. McIlrath & Eck LLC now owns 9,098 shares of the investment management company’s stock worth $46,000 after acquiring an additional 5,549 shares during the last quarter. Finally, LGT Financial Advisors LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund in the 3rd quarter worth $55,000.

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.