abrdn Income Credit Strategies Fund
ACP
37 hedge funds and large institutions have $34.7M invested in abrdn Income Credit Strategies Fund in 2020 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 11 increasing their positions, 13 reducing their positions, and 7 closing their positions.
57% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 7
6% more funds holding
Funds holding: 35 → 37 (+2)
7.32% less ownership
Funds ownership: 34.51% → 27.19% (-7.3%)
15% less repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 13
33% less capital invested
Capital invested by funds: $51.6M → $34.7M (-$16.9M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$8.32M |
| 2 |
CCP
Clough Capital Partners
Boston,
Massachusetts
|
+$748K |
| 3 |
Invesco
Atlanta,
Georgia
|
+$439K |
| 4 |
MC
Matisse Capital
Portland,
Oregon
|
+$386K |
| 5 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
+$337K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$3.29M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$2.6M |
| 3 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$1.09M |
| 4 |
Millennium Management
New York
|
-$628K |
| 5 |
Morgan Stanley
New York
|
-$534K |
ACP Hedge Fund Activity: Q1 2020 in Review
37 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in abrdn Income Credit Strategies Fund (ACP) for Q1 2020, worth a combined $34.7M — down 33% from $51.6M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new ACP positions and 7 closed out — a net gain of 4 holders — while 11 added to existing stakes and 13 trimmed.
The largest buyer was Saba Capital Management, opening a new position worth an estimated $8.32M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $3.29M sold.
- 37 institutional investors held abrdn Income Credit Strategies Fund (ACP) as of Q1 2020, up from 35 in Q4 2019.
- Funds reported $34.7M of abrdn Income Credit Strategies Fund stock for Q1 2020, down 33% quarter-over-quarter.
- 11 funds opened new abrdn Income Credit Strategies Fund positions in Q1 2020 and 7 closed out, a net change of +4 holders.
- The largest abrdn Income Credit Strategies Fund buyer in Q1 2020 was Saba Capital Management, an estimated $8.32M added.
- The largest abrdn Income Credit Strategies Fund seller in Q1 2020 was Rivernorth Capital Management, an estimated $3.29M sold.
Based on aggregated 13F filings for Q1 2020.