Abrdn Income Credit Strategies Fund Declares Monthly Dividend of $0.10 (NYSE:ACP)

Abrdn Income Credit Strategies Fund (NYSE:ACP) announced a monthly dividend on Thursday, November 9th, Zacks reports. Investors of record on Wednesday, November 22nd will be paid a dividend of 0.10 per share by the investment management company on Thursday, November 30th. This represents a $1.20 annualized dividend and a yield of 19.20%. The ex-dividend date of this dividend is Tuesday, November 21st.

Abrdn Income Credit Strategies Fund has decreased its dividend payment by an average of 5.9% per year over the last three years.

Abrdn Income Credit Strategies Fund Price Performance

Abrdn Income Credit Strategies Fund stock opened at $6.25 on Monday. The business’s fifty day simple moving average is $6.38 and its two-hundred day simple moving average is $6.67. Abrdn Income Credit Strategies Fund has a 12 month low of $5.55 and a 12 month high of $8.63.

Institutional Investors Weigh In On Abrdn Income Credit Strategies Fund

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG boosted its holdings in Abrdn Income Credit Strategies Fund by 10.1% in the third quarter. UBS Group AG now owns 92,382 shares of the investment management company’s stock worth $599,000 after acquiring an additional 8,487 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Abrdn Income Credit Strategies Fund in the second quarter worth $555,000. LPL Financial LLC lifted its holdings in shares of Abrdn Income Credit Strategies Fund by 29.4% during the second quarter. LPL Financial LLC now owns 59,231 shares of the investment management company’s stock valued at $450,000 after purchasing an additional 13,473 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Abrdn Income Credit Strategies Fund during the second quarter valued at $284,000. Finally, SeaCrest Wealth Management LLC lifted its holdings in shares of Abrdn Income Credit Strategies Fund by 3.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 41,081 shares of the investment management company’s stock valued at $279,000 after purchasing an additional 1,440 shares in the last quarter.

About Abrdn Income Credit Strategies Fund

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.