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abrdn U.S. Closed-End Funds Announce Distribution Payment Details
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abrdn U.S. Closed-End Funds Announce Distribution Payment Details
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CORRECTION: abrdn U.S. Closed-End Funds Announce Distribution Payment Details
ACCESSWIRE (Tue, 13-Feb 9:40 PM ET)
The Fund’s investment objective is to seek a high level of current income with a secondary objective of capital appreciation. The Fund seeks to achieve its investment objectives by opportunistically investing in loan and debt instruments (and loan-related or debt-related instruments, including repurchase and reverse repurchase agreements and derivative instruments) of issuers that operate in a variety of industries and geographic regions.
Aberdeen Income Credit Strategies trades on the NYSE stock market under the symbol ACP.
As of April 19, 2024, ACP stock price declined to $6.68 with 425,305 million shares trading.
ACP has a beta of 0.83, meaning it tends to be less sensitive to market movements. ACP has a correlation of 0.24 to the broad based SPY ETF.
ACP has a market cap of $348.09 million. This is considered a Small Cap stock.
In the last 3 years, ACP stock traded as high as $12.67 and as low as $5.55.
ACP has underperformed the market in the last year with a return of +18.7%, while the SPY ETF gained +21.2%. In the last 3 month period, ACP fell short of the market, returning +1.9%, while SPY returned +3.0%. However, in the most recent 2 weeks ACP has outperformed the stock market by returning -0.7%, while SPY returned -4.5%.
ACP support price is $6.66 and resistance is $6.79 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ACP stock will trade within this expected range on the day.