Short Interest in Abrdn Income Credit Strategies Fund (NYSE:ACP) Rises By 160.8%

Abrdn Income Credit Strategies Fund (NYSE:ACP) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 123,100 shares, an increase of 160.8% from the August 15th total of 47,200 shares. Based on an average trading volume of 611,500 shares, the short-interest ratio is currently 0.2 days.

Abrdn Income Credit Strategies Fund Stock Up 0.8 %

Shares of Abrdn Income Credit Strategies Fund stock traded up $0.05 during trading hours on Friday, hitting $6.51. The company’s stock had a trading volume of 377,291 shares, compared to its average volume of 441,301. Abrdn Income Credit Strategies Fund has a 12 month low of $5.55 and a 12 month high of $7.17. The stock has a 50 day moving average of $6.51 and a 200 day moving average of $6.67.

Abrdn Income Credit Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 20th. This represents a $1.20 annualized dividend and a yield of 18.43%.

Institutional Trading of Abrdn Income Credit Strategies Fund

Several hedge funds and other institutional investors have recently modified their holdings of ACP. B. Riley Wealth Advisors Inc. boosted its position in Abrdn Income Credit Strategies Fund by 23.0% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,046 shares of the investment management company’s stock worth $156,000 after acquiring an additional 4,317 shares during the last quarter. Insigneo Advisory Services LLC bought a new position in Abrdn Income Credit Strategies Fund in the second quarter valued at $76,000. Denver PWM LLC acquired a new stake in Abrdn Income Credit Strategies Fund in the 2nd quarter valued at $37,000. Concurrent Investment Advisors LLC acquired a new stake in Abrdn Income Credit Strategies Fund in the 2nd quarter valued at $201,000. Finally, SeaCrest Wealth Management LLC lifted its position in Abrdn Income Credit Strategies Fund by 7.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 32,209 shares of the investment management company’s stock worth $218,000 after buying an additional 2,111 shares in the last quarter.

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.