SPY - ACP: Recapping The Rights Offering At Expiration

This article was first published on November 14. All data herein is from that point unless otherwise specified.

Aberdeen Credit Strategies (ACP)

ACP's rights offering expired on the 13th. Let's review the action in the prices and how we can think of the fund in our portfolios. We are seeing a lot of rights offerings lately as discounts tighten to levels not seen for at least three years. Fund sponsors use these tactics, typically to the detriment of their shareholders as a means of increasing fee revenue. After all, if they increase the

Read more ...