Abrdn Income Credit Strategies Fund (NYSE:ACP) Stock Passes Above 200 Day Moving Average of $6.76

Shares of Abrdn Income Credit Strategies Fund (NYSE:ACP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.76 and traded as high as $6.95. Abrdn Income Credit Strategies Fund shares last traded at $6.88, with a volume of 407,637 shares trading hands.

Abrdn Income Credit Strategies Fund Price Performance

The firm has a 50 day moving average price of $6.71 and a two-hundred day moving average price of $6.76.

Abrdn Income Credit Strategies Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 21st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.20 annualized dividend and a dividend yield of 17.44%.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

Large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new stake in Abrdn Income Credit Strategies Fund during the fourth quarter worth approximately $58,000. High Net Worth Advisory Group LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the first quarter worth approximately $69,000. SeaCrest Wealth Management LLC grew its stake in 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 period. Aristides Capital LLC acquired a new stake in Abrdn Income Credit Strategies Fund during the fourth quarter worth approximately $118,000. Finally, Worth Asset Management LLC grew its stake in 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 period.

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.