Aberdeen Income Credit Strategies Fund (NYSE:ACP) Sees Large Growth in Short Interest

Aberdeen Income Credit Strategies Fund (NYSE:ACPGet Rating) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 291,800 shares, an increase of 43.8% from the April 15th total of 202,900 shares. Based on an average daily trading volume, of 127,600 shares, the days-to-cover ratio is currently 2.3 days.

A number of institutional investors have recently bought and sold shares of ACP. Harbour Investments Inc. raised its position in Aberdeen Income Credit Strategies Fund by 416.3% in the fourth quarter. Harbour Investments Inc. now owns 6,066 shares of the investment management company’s stock valued at $62,000 after purchasing an additional 4,891 shares during the last quarter. Wagner Wealth Management LLC increased its stake in shares of Aberdeen Income Credit Strategies Fund by 46.1% in the third quarter. Wagner Wealth Management LLC now owns 6,094 shares of the investment management company’s stock valued at $69,000 after buying an additional 1,924 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Aberdeen Income Credit Strategies Fund in the fourth quarter valued at about $118,000. Advisory Services Network LLC increased its stake in shares of Aberdeen Income Credit Strategies Fund by 10.9% in the third quarter. Advisory Services Network LLC now owns 11,447 shares of the investment management company’s stock valued at $126,000 after buying an additional 1,125 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in Aberdeen Income Credit Strategies Fund during the fourth quarter worth approximately $144,000.

Shares of ACP stock traded down $0.05 on Friday, hitting $8.46. 133,071 shares of the company’s stock were exchanged, compared to its average volume of 142,063. Aberdeen Income Credit Strategies Fund has a 12 month low of $8.42 and a 12 month high of $12.53. The company has a 50 day moving average of $9.52 and a 200 day moving average of $10.14.

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $1.20 annualized dividend and a yield of 14.18%.

Aberdeen Income Credit Strategies Fund Company Profile (Get Rating)

Avenue 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.

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