ACP's offering was massively dilutive.
NAV was adjusted downwards by -4.6% when the new shares were released.
Selling upon the rights offering announcement worked, once again.
Author's note: This article was released to CEF/ETF Income Laboratory members on November 18, 2019.
ACP rights offering oversubscribed
Aberdeen Income Credit Strategies Fund's (ACP) rights offering expired on November 14, 2019.