Abrdn Income Credit Strategies Fund (NYSE:ACP – Get Free Report) declared a monthly dividend on Friday, September 11th. Investors of record on Tuesday, September 22nd will be paid a dividend of 0.055 per share by the investment management company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Tuesday, September 22nd.
Abrdn Income Credit Strategies Fund Price Performance
ACP stock opened at $4.67 on Friday. The stock has a 50-day moving average price of $5.04 and a two-hundred day moving average price of $5.20. Abrdn Income Credit Strategies Fund has a 12-month low of $4.50 and a 12-month high of $5.93.
Institutional Trading of Abrdn Income Credit Strategies Fund
Institutional investors have recently modified their holdings of the company. Founders Financial Alliance LLC raised its holdings in Abrdn Income Credit Strategies Fund by 3.2% in the fourth quarter. Founders Financial Alliance LLC now owns 128,516 shares of the investment management company’s stock valued at $695,000 after buying an additional 4,036 shares during the period. McIlrath & Eck LLC increased its position in shares of Abrdn Income Credit Strategies Fund by 156.4% in the first quarter. McIlrath & Eck LLC now owns 9,098 shares of the investment management company’s stock worth $46,000 after acquiring an additional 5,549 shares in the last quarter. Calamos Advisors LLC raised its stake in shares of Abrdn Income Credit Strategies Fund by 13.5% in the 1st quarter. Calamos Advisors LLC now owns 50,607 shares of the investment management company’s stock valued at $258,000 after acquiring an additional 6,025 shares during the period. Arlington Capital Management Inc. lifted its holdings in shares of Abrdn Income Credit Strategies Fund by 4.0% during the 1st quarter. Arlington Capital Management Inc. now owns 161,911 shares of the investment management company’s stock valued at $826,000 after acquiring an additional 6,275 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new stake in Abrdn Income Credit Strategies Fund during the 2nd quarter worth $52,000.
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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