abrdn Income Credit Strategies Fund
ACP
27 hedge funds and large institutions have $37M invested in abrdn Income Credit Strategies Fund in 2019 Q1 according to their latest regulatory filings, with 1 funds opening new positions, 9 increasing their positions, 12 reducing their positions, and 8 closing their positions.
5.57% less ownership
Funds ownership: 29.72% → 24.15% (-5.6%)
6% less capital invested
Capital invested by funds: $39.5M → $37M (-$2.51M)
21% less funds holding
Funds holding: 34 → 27 (-7)
25% less repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 12
88% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 8
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MAFM
Mid Atlantic Financial Management
Pittsburgh,
Pennsylvania
|
+$368K |
| 2 |
CIA
Capital Investment Advisors
Atlanta,
Georgia
|
+$154K |
| 3 |
Wells Fargo
San Francisco,
California
|
+$154K |
| 4 |
CCP
Clough Capital Partners
Boston,
Massachusetts
|
+$115K |
| 5 |
LTFS
Ladenburg Thalmann Financial Services
Miami,
Florida
|
+$44.8K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
-$1.82M |
| 2 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
-$1.34M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$1.05M |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$1.05M |
| 5 |
Morgan Stanley
New York
|
-$966K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TRCT
26
Tower Research Capital (TRC)
New York
| $10K | +$9.33K | +827 | New |
|
27
Royal Bank of Canada
Toronto,
Ontario, Canada
| $6K | – | – | – |
|
|
CRC
28
Curi RMB Capital
Chicago,
Illinois
| – | -$1.34M | -131,897 | Closed |
|
|
WAM
29
Weiss Asset Management
Boston,
Massachusetts
| – | -$394K | -38,834 | Closed |
|
30
Millennium Management
New York
| – | -$355K | -35,047 | Closed |
|
|
AA
31
AQR Arbitrage
Greenwich,
Connecticut
| – | -$124K | -12,261 | Closed |
|
32
Commonwealth Equity Services
Waltham,
Massachusetts
| – | -$118K | -11,668 | Closed |
|
|
MOS
33
MGO One Seven
Beachwood,
Ohio
| – | -$69K | -6,811 | Closed |
|
34
JP Morgan Chase
New York
| – | -$3K | -320 | Closed |
|
|
BCM
35
Brasada Capital Management
Houston,
Texas
| – | -$1K | -103 | Closed |
|
ACP Hedge Fund Activity: Q1 2019 in Review
27 of the 4,621 institutional investors tracked by Wall St. Rank reported a position in abrdn Income Credit Strategies Fund (ACP) for Q1 2019, worth a combined $37M — down 6.3% from $39.5M a quarter earlier.
Sellers outnumbered buyers: 8 funds closed out of ACP and 1 opened new positions — a net loss of 7 holders — while 12 trimmed existing stakes and 9 added.
The largest buyer was Mid Atlantic Financial Management, adding an estimated $368K. The largest seller was Invesco, cutting an estimated $1.82M.
- 27 institutional investors held abrdn Income Credit Strategies Fund (ACP) as of Q1 2019, down from 34 in Q4 2018.
- Funds reported $37M of abrdn Income Credit Strategies Fund stock for Q1 2019, down 6.3% quarter-over-quarter.
- 1 fund opened new abrdn Income Credit Strategies Fund positions in Q1 2019 and 8 closed out, a net change of -7 holders.
- The largest abrdn Income Credit Strategies Fund buyer in Q1 2019 was Mid Atlantic Financial Management, an estimated $368K added.
- The largest abrdn Income Credit Strategies Fund seller in Q1 2019 was Invesco, an estimated $1.82M sold.
Based on aggregated 13F filings for Q1 2019.