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

Abrdn Income Credit Strategies Fund (NYSE:ACP) declared a monthly dividend on Tuesday, April 9th, Zacks reports. Investors of record on Tuesday, April 23rd will be given a dividend of 0.10 per share by the investment management company on Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 17.96%. The ex-dividend date of this dividend is Monday, April 22nd.

Abrdn Income Credit Strategies Fund has decreased its dividend payment by an average of 4.1% annually over the last three years.

Abrdn Income Credit Strategies Fund Stock Performance

ACP opened at $6.68 on Friday. Abrdn Income Credit Strategies Fund has a twelve month low of $5.55 and a twelve month high of $7.17. The company has a 50-day moving average price of $6.79 and a 200 day moving average price of $6.58.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACP. Baird Financial Group Inc. raised its holdings in Abrdn Income Credit Strategies Fund by 12.3% in the 4th quarter. Baird Financial Group Inc. now owns 145,823 shares of the investment management company’s stock valued at $992,000 after acquiring an additional 15,996 shares during the last quarter. UBS Group AG raised its holdings in Abrdn Income Credit Strategies Fund by 7.0% in the 4th quarter. UBS Group AG now owns 127,809 shares of the investment management company’s stock valued at $869,000 after acquiring an additional 8,315 shares during the last quarter. LPL Financial LLC raised its holdings in Abrdn Income Credit Strategies Fund by 1.8% in the 3rd quarter. LPL Financial LLC now owns 373,193 shares of the investment management company’s stock valued at $2,538,000 after acquiring an additional 6,777 shares during the last quarter. Royal Bank of Canada raised its holdings in Abrdn Income Credit Strategies Fund by 7.8% in the 2nd quarter. Royal Bank of Canada now owns 22,410 shares of the investment management company’s stock valued at $153,000 after acquiring an additional 1,627 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in Abrdn Income Credit Strategies Fund in the 2nd quarter valued at about $284,000.

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.