Abrdn Income Credit Strategies Fund (NYSE:ACP) Stock Passes Above Two Hundred Day Moving Average of $6.58

Shares of Abrdn Income Credit Strategies Fund (NYSE:ACP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.58 and traded as high as $6.75. Abrdn Income Credit Strategies Fund shares last traded at $6.72, with a volume of 368,460 shares traded.

Abrdn Income Credit Strategies Fund Price Performance

The company has a 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $6.58.

Abrdn Income Credit Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.10 per share. The ex-dividend date is Monday, April 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.86%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 81.9% during the 1st quarter. SeaCrest Wealth Management LLC now owns 30,098 shares of the investment management company’s stock valued at $204,000 after buying an additional 13,554 shares during the last quarter. Oxinas Partners Wealth Management LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 11.5% during the 1st quarter. Oxinas Partners Wealth Management LLC now owns 116,855 shares of the investment management company’s stock valued at $792,000 after buying an additional 12,040 shares during the last quarter. High Net Worth Advisory Group LLC purchased a new position in shares of Abrdn Income Credit Strategies Fund during the 1st quarter valued at $69,000. Aristides Capital LLC purchased a new position in shares of Abrdn Income Credit Strategies Fund during the 4th quarter valued at $118,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Abrdn Income Credit Strategies Fund during the 4th quarter valued at $166,000.

About Abrdn Income Credit Strategies Fund

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.