Short Interest in Abrdn Income Credit Strategies Fund (NYSE:ACP) Drops By 30.9%

Abrdn Income Credit Strategies Fund (NYSE:ACPGet Free Report) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 217,900 shares, a drop of 30.9% from the January 15th total of 315,500 shares. Based on an average daily volume of 338,000 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of Abrdn Income Credit Strategies Fund

A number of institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 73.4% during the first quarter. Guggenheim Capital LLC now owns 629,658 shares of the investment management company’s stock worth $6,164,000 after purchasing an additional 266,436 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Abrdn Income Credit Strategies Fund during the first quarter worth $3,611,000. LPL Financial LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 633.4% during the first quarter. LPL Financial LLC now owns 387,938 shares of the investment management company’s stock worth $2,588,000 after purchasing an additional 335,043 shares during the last quarter. Invesco Ltd. lifted its position in shares of Abrdn Income Credit Strategies Fund by 25.0% during the first quarter. Invesco Ltd. now owns 287,674 shares of the investment management company’s stock worth $2,816,000 after purchasing an additional 57,612 shares during the last quarter. Finally, Shaker Financial Services LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund during the fourth quarter worth $1,661,000.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of ACP opened at $6.77 on Tuesday. The business has a fifty day moving average of $6.78 and a 200 day moving average of $6.63. Abrdn Income Credit Strategies Fund has a 52-week low of $5.55 and a 52-week high of $8.63.

Abrdn Income Credit Strategies Fund Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 22nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, February 21st.

Abrdn Income Credit Strategies Fund Company Profile

(Get Free Report)

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.

Further Reading

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