Abrdn Income Credit Strategies Fund (NYSE:ACP) Share Price Passes Above 200 Day Moving Average of $6.60

Shares of Abrdn Income Credit Strategies Fund (NYSE:ACP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.60 and traded as high as $6.73. Abrdn Income Credit Strategies Fund shares last traded at $6.72, with a volume of 372,803 shares changing hands.

Abrdn Income Credit Strategies Fund Stock Performance

The company has a 50 day simple moving average of $6.74 and a 200 day simple moving average of $6.60.

Abrdn Income Credit Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 23rd were given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 17.86%. The ex-dividend date of this dividend was Monday, April 22nd.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

Institutional investors have recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in Abrdn Income Credit Strategies Fund during the 4th quarter worth $58,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Abrdn Income Credit Strategies Fund in the third quarter worth about $62,000. High Net Worth Advisory Group LLC acquired a new stake in shares of Abrdn Income Credit Strategies Fund in the first quarter valued at about $69,000. SeaCrest Wealth Management LLC raised its holdings in shares of Abrdn Income Credit Strategies Fund by 40.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 16,544 shares of the investment management company’s stock valued at $112,000 after buying an additional 4,741 shares during the period. Finally, Aristides Capital LLC acquired a new position in Abrdn Income Credit Strategies Fund during the 4th quarter worth approximately $118,000.

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.