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

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 414,261 shares, a growth of 160.3% from the December 31st total of 159,121 shares. Based on an average daily volume of 634,568 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 634,568 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of large investors have recently made changes to their positions in the company. Absolute Investment Advisers LLC lifted its stake in Abrdn Income Credit Strategies Fund by 358.8% in the fourth quarter. Absolute Investment Advisers LLC now owns 2,083,887 shares of the investment management company’s stock valued at $11,451,000 after buying an additional 1,629,728 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Abrdn Income Credit Strategies Fund in the second quarter valued at $3,541,000. Guggenheim Capital LLC lifted its stake in Abrdn Income Credit Strategies Fund by 31.0% in the 2nd quarter. Guggenheim Capital LLC now owns 2,040,306 shares of the investment management company’s stock valued at $12,038,000 after purchasing an additional 483,286 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 8.3% in the third quarter. Penserra Capital Management LLC now owns 3,228,950 shares of the investment management company’s stock valued at $18,727,000 after buying an additional 248,379 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Abrdn Income Credit Strategies Fund by 589.2% in the second quarter. Envestnet Asset Management Inc. now owns 241,747 shares of the investment management company’s stock valued at $1,426,000 after purchasing an additional 206,669 shares during the last quarter.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of NYSE:ACP traded up $0.01 during mid-day trading on Thursday, reaching $5.62. The stock had a trading volume of 1,027,381 shares, compared to its average volume of 686,546. The firm has a 50 day simple moving average of $5.47 and a two-hundred day simple moving average of $5.67. Abrdn Income Credit Strategies Fund has a twelve month low of $4.92 and a twelve month high of $6.28.

Abrdn Income Credit Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 23rd will be given a dividend of $0.0775 per share. This represents a c) dividend on an annualized basis and a dividend yield of 16.6%. The ex-dividend date of this dividend is Friday, January 23rd.

Abrdn Income Credit Strategies Fund Company Profile

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.