Abrdn Income Credit Strategies Fund (NYSE:ACP) Shares Will Pay Monthly Dividend of $0.06

Abrdn Income Credit Strategies Fund (NYSE:ACP) declared a monthly dividend on Tuesday, November 10th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.0550 per share by the investment management company on Monday, November 30th. This represents a $0.66 annualized dividend and a yield of 15.3%. The ex-dividend date of this dividend is Friday, November 20th.

Abrdn Income Credit Strategies Fund Stock Performance

Shares of ACP traded down $0.03 during mid-day trading on Wednesday, reaching $4.32. The stock had a trading volume of 94,780 shares, compared to its average volume of 639,990. Abrdn Income Credit Strategies Fund has a 12 month low of $4.12 and a 12 month high of $5.76. The business has a fifty day moving average of $4.48 and a 200 day moving average of $5.10.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACP. Landscape Capital Management L.L.C. bought a new position in Abrdn Income Credit Strategies Fund in the 3rd quarter worth $314,000. Global Retirement Partners LLC increased its stake in Abrdn Income Credit Strategies Fund by 12.1% in the 3rd quarter. Global Retirement Partners LLC now owns 72,068 shares of the investment management company’s stock worth $321,000 after buying an additional 7,790 shares in the last quarter. StoneX Group Inc. raised its holdings in Abrdn Income Credit Strategies Fund by 44.7% during the third quarter. StoneX Group Inc. now owns 29,565 shares of the investment management company’s stock valued at $140,000 after acquiring an additional 9,127 shares during the period. Calamos Advisors LLC bought a new stake in Abrdn Income Credit Strategies Fund during the third quarter valued at about $274,000. Finally, Syverson Strege & Co bought a new position in shares of Abrdn Income Credit Strategies Fund in the third quarter worth about $66,000.

About Abrdn Income Credit Strategies Fund

abrdn Income Credit Strategies Fund (NYSE: ACP) is a non-diversified, closed-end investment fund managed by abrdn Inc. The fund seeks to provide a high level of current income, with a secondary objective of capital appreciation, by investing primarily in credit-related fixed-income securities. The fund invests across global credit markets and may hold floating-rate loans, high-yield corporate bonds, investment-grade debt, structured credit instruments and other debt securities. Its portfolio may include below-investment-grade securities, commonly known as high-yield or “junk” bonds, and the fund may use leverage as part of its investment strategy.