Short Interest in Aberdeen Income Credit Strategies Fund (NYSE:ACP) Drops By 54.2%

Aberdeen Income Credit Strategies Fund (NYSE:ACP) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totalling 9,800 shares, a drop of 54.2% from the February 27th total of 21,400 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 176,700 shares, the short-interest ratio is presently 0.1 days.

Several institutional investors have recently modified their holdings of ACP. Tower Research Capital LLC TRC boosted its position in shares of Aberdeen Income Credit Strategies Fund by 30.4% in the third quarter. Tower Research Capital LLC TRC now owns 7,807 shares of the investment management company’s stock worth $97,000 after buying an additional 1,818 shares during the period. Vista Private Wealth Partners. LLC boosted its position in shares of Aberdeen Income Credit Strategies Fund by 1,262.7% in the fourth quarter. Vista Private Wealth Partners. LLC now owns 26,314 shares of the investment management company’s stock worth $304,000 after buying an additional 24,383 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Aberdeen Income Credit Strategies Fund in the fourth quarter worth $231,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Aberdeen Income Credit Strategies Fund in the fourth quarter worth $369,000. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Aberdeen Income Credit Strategies Fund by 38.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 47,666 shares of the investment management company’s stock worth $549,000 after buying an additional 13,315 shares during the period.

Shares of Aberdeen Income Credit Strategies Fund stock traded down $0.17 during midday trading on Thursday, hitting $7.25. The company’s stock had a trading volume of 265,352 shares, compared to its average volume of 207,255. The stock has a 50-day simple moving average of $10.26 and a 200-day simple moving average of $11.30. Aberdeen Income Credit Strategies Fund has a 1-year low of $5.30 and a 1-year high of $13.21.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th will be given a $0.12 dividend. The ex-dividend date is Thursday, March 19th. This represents a $1.44 annualized dividend and a dividend yield of 19.86%.

About Aberdeen Income Credit Strategies Fund

Avenue Income Credit Strategies Fund is a closed ended fixed income fund launched by Avenue Capital Group. It is managed by Avenue Capital Management II LP. The fund invests in fixed income markets across the globe. It seeks to invest in loan and debt instruments. Avenue Income Credit Strategies Fund was formed on October 12, 2010 and is domiciled in the United States.

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