Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Sees Significant Decrease in Short Interest

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 13,100 shares, a drop of 5.8% from the July 15th total of 13,900 shares. Based on an average daily trading volume, of 67,100 shares, the days-to-cover ratio is presently 0.2 days.

Abrdn Global Dynamic Dividend Fund Stock Performance

Shares of AGD stock opened at $10.28 on Wednesday. Abrdn Global Dynamic Dividend Fund has a fifty-two week low of $8.20 and a fifty-two week high of $10.42. The stock’s 50-day simple moving average is $9.86 and its 200-day simple moving average is $9.63.

Abrdn Global Dynamic Dividend Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 23rd will be paid a $0.11 dividend. The ex-dividend date is Friday, August 23rd. This is a boost from Abrdn Global Dynamic Dividend Fund’s previous monthly dividend of $0.07. This represents a $1.32 dividend on an annualized basis and a yield of 12.84%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Karpus Management Inc. grew its holdings in shares of Abrdn Global Dynamic Dividend Fund by 4.5% during the fourth quarter. Karpus Management Inc. now owns 632,505 shares of the company’s stock valued at $5,908,000 after buying an additional 27,125 shares during the last quarter. Logan Stone Capital LLC grew its stake in Abrdn Global Dynamic Dividend Fund by 7.2% during the 2nd quarter. Logan Stone Capital LLC now owns 106,092 shares of the company’s stock valued at $1,035,000 after purchasing an additional 7,092 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of Abrdn Global Dynamic Dividend Fund by 4.6% in the fourth quarter. Wolverine Asset Management LLC now owns 85,591 shares of the company’s stock valued at $799,000 after purchasing an additional 3,793 shares during the period. Choreo LLC acquired a new position in shares of Abrdn Global Dynamic Dividend Fund in the fourth quarter valued at about $720,000. Finally, Cornerstone Advisors LLC raised its stake in shares of Abrdn Global Dynamic Dividend Fund by 417.8% in the second quarter. Cornerstone Advisors LLC now owns 70,067 shares of the company’s stock worth $684,000 after purchasing an additional 56,536 shares during the last quarter.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund is a closed ended equity mutual fund launched and managed by Alpine Woods Capital Investors, LLC. It invests in the public equity markets across the globe. The fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies across all market capitalizations.