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 large drop in short interest during 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 shares of the company are short sold. Based on an average daily volume of 176,700 shares, the short-interest ratio is currently 0.1 days.

Shares of NYSE ACP traded down $0.17 during mid-day trading on Thursday, hitting $7.25. The company had a trading volume of 265,352 shares, compared to its average volume of 207,255. Aberdeen Income Credit Strategies Fund has a 12 month low of $5.30 and a 12 month high of $13.21. The firm’s 50 day simple moving average is $10.26 and its two-hundred day simple moving average is $11.30.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in Aberdeen Income Credit Strategies Fund by 30.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,807 shares of the investment management company’s stock valued at $97,000 after acquiring an additional 1,818 shares during the period. Vista Private Wealth Partners. LLC increased its position in Aberdeen Income Credit Strategies Fund by 1,262.7% in the 4th quarter. Vista Private Wealth Partners. LLC now owns 26,314 shares of the investment management company’s stock valued at $304,000 after acquiring an additional 24,383 shares during the period. FNY Investment Advisers LLC acquired a new stake in Aberdeen Income Credit Strategies Fund in the 4th quarter valued at approximately $231,000. LFA Lugano Financial Advisors SA acquired a new stake in Aberdeen Income Credit Strategies Fund in the 4th quarter valued at approximately $369,000. Finally, SeaCrest Wealth Management LLC increased its position in Aberdeen Income Credit Strategies Fund by 38.8% in the 4th quarter. SeaCrest Wealth Management LLC now owns 47,666 shares of the investment management company’s stock valued at $549,000 after acquiring an additional 13,315 shares during the period.

Aberdeen Income Credit Strategies Fund Company Profile

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.

See Also: Net Asset Value

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