Abrdn Income Credit Strategies Fund (ACP) To Go Ex-Dividend on April 22nd

Abrdn Income Credit Strategies Fund (NYSE:ACP) declared a monthly dividend on Tuesday, April 9th, Zacks reports. Shareholders of record on Tuesday, April 23rd will be given a dividend of 0.10 per share by the investment management company on Tuesday, April 30th. This represents a $1.20 annualized dividend and a yield of 17.96%. The ex-dividend date is Monday, April 22nd.

Abrdn Income Credit Strategies Fund has decreased its dividend by an average of 4.1% per year over the last three years.

Abrdn Income Credit Strategies Fund Stock Down 0.6 %

Shares of NYSE:ACP opened at $6.68 on Friday. The business has a 50-day moving average of $6.79 and a two-hundred day moving average of $6.58. Abrdn Income Credit Strategies Fund has a fifty-two week low of $5.55 and a fifty-two week high of $7.17.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

A number of large investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. lifted its stake in shares of Abrdn Income Credit Strategies Fund by 12.3% in the fourth quarter. Baird Financial Group Inc. now owns 145,823 shares of the investment management company’s stock worth $992,000 after buying an additional 15,996 shares during the last quarter. UBS Group AG boosted its holdings in Abrdn Income Credit Strategies Fund by 7.0% during the fourth quarter. UBS Group AG now owns 127,809 shares of the investment management company’s stock valued at $869,000 after acquiring an additional 8,315 shares during the period. LPL Financial LLC grew its position in shares of Abrdn Income Credit Strategies Fund by 1.8% in the third quarter. LPL Financial LLC now owns 373,193 shares of the investment management company’s stock valued at $2,538,000 after purchasing an additional 6,777 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Abrdn Income Credit Strategies Fund by 7.8% in the second quarter. Royal Bank of Canada now owns 22,410 shares of the investment management company’s stock worth $153,000 after purchasing an additional 1,627 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in shares of Abrdn Income Credit Strategies Fund during the 2nd quarter worth about $284,000.

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.