Abrdn Income Credit Strategies Fund (NYSE:ACP – Get Free Report) declared a monthly dividend on Monday, May 11th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.0775 per share by the investment management company on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 17.7%. The ex-dividend date of this dividend is Thursday, May 21st.
Abrdn Income Credit Strategies Fund Stock Performance
Abrdn Income Credit Strategies Fund stock opened at $5.26 on Tuesday. The stock’s fifty day moving average price is $5.30 and its two-hundred day moving average price is $5.44. Abrdn Income Credit Strategies Fund has a one year low of $4.99 and a one year high of $5.99.
Hedge Funds Weigh In On Abrdn Income Credit Strategies Fund
A number of hedge funds have recently added to or reduced their stakes in ACP. Private Advisor Group LLC boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 6.8% in the 3rd quarter. Private Advisor Group LLC now owns 30,856 shares of the investment management company’s stock valued at $179,000 after purchasing an additional 1,960 shares in the last quarter. Occidental Asset Management LLC boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 10.5% in the 3rd quarter. Occidental Asset Management LLC now owns 20,935 shares of the investment management company’s stock valued at $121,000 after purchasing an additional 1,991 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 5.0% in the 3rd quarter. Wedbush Securities Inc. now owns 49,268 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 2,331 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 2.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 90,198 shares of the investment management company’s stock valued at $495,000 after purchasing an additional 2,513 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 4.7% in the 4th quarter. Kestra Advisory Services LLC now owns 63,633 shares of the investment management company’s stock valued at $344,000 after purchasing an additional 2,879 shares in the last quarter.
About Abrdn Income Credit Strategies Fund
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.
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