Abrdn Income Credit Strategies Fund (NYSE:ACP) Announces 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 paid a dividend of 0.10 per share by the investment management company on Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 17.96%. The ex-dividend date of this dividend is Monday, April 22nd.

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

Abrdn Income Credit Strategies Fund Price Performance

Shares of NYSE 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’s fifty day moving average is $6.79 and its 200-day moving average is $6.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACP. Advisors Asset Management Inc. acquired a new stake in shares of Abrdn Income Credit Strategies Fund during the first quarter worth about $3,611,000. LPL Financial LLC lifted its stake in Abrdn Income Credit Strategies Fund by 633.4% in the first quarter. LPL Financial LLC now owns 387,938 shares of the investment management company’s stock valued at $2,588,000 after buying an additional 335,043 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Abrdn Income Credit Strategies Fund by 73.4% in the first quarter. Guggenheim Capital LLC now owns 629,658 shares of the investment management company’s stock valued at $6,164,000 after buying an additional 266,436 shares during the period. Nations Financial Group Inc. IA ADV acquired a new position in shares of Abrdn Income Credit Strategies Fund in the first quarter valued at approximately $1,373,000. Finally, UBS Group AG increased its position in shares of Abrdn Income Credit Strategies Fund by 83.9% during the first quarter. UBS Group AG now owns 178,952 shares of the investment management company’s stock worth $1,194,000 after acquiring an additional 81,638 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.