Abrdn Income Credit Strategies Fund (NYSE:ACP) Share Price Crosses Above 200-Day Moving Average of $6.72

Shares of Abrdn Income Credit Strategies Fund (NYSE:ACPGet Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.72 and traded as high as $6.79. Abrdn Income Credit Strategies Fund shares last traded at $6.79, with a volume of 285,714 shares changing hands.

Abrdn Income Credit Strategies Fund Price Performance

The business’s fifty day moving average is $6.70 and its two-hundred day moving average is $6.72.

Abrdn Income Credit Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 17.67%. The ex-dividend date was Wednesday, May 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Atria Wealth Solutions Inc. bought a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter worth $196,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Abrdn Income Credit Strategies Fund during the third quarter worth $157,000. Worth Asset Management LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 63.7% during the fourth quarter. Worth Asset Management LLC now owns 17,735 shares of the investment management company’s stock worth $121,000 after purchasing an additional 6,900 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Abrdn Income Credit Strategies Fund by 40.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 16,544 shares of the investment management company’s stock worth $112,000 after purchasing an additional 4,741 shares during the last quarter. Finally, Shaker Financial Services LLC bought a new stake in shares of Abrdn Income Credit Strategies Fund during the fourth quarter worth $1,661,000.

About Abrdn Income Credit Strategies Fund

(Get Free Report)

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.

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