Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Share Price Passes Above 50-Day Moving Average – What’s Next?

Shares of Abrdn Global Dynamic Dividend Fund (NYSE:AGD) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.06 and traded as high as $10.29. Abrdn Global Dynamic Dividend Fund shares last traded at $10.18, with a volume of 104,904 shares changing hands.

Abrdn Global Dynamic Dividend Fund Trading Down 0.1 %

The firm’s 50-day moving average price is $10.06 and its two-hundred day moving average price is $10.16.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.32 annualized dividend and a dividend yield of 12.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its position in Abrdn Global Dynamic Dividend Fund by 625.0% in the fourth quarter. IFP Advisors Inc now owns 2,900 shares of the company’s stock valued at $28,000 after buying an additional 2,500 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in Abrdn Global Dynamic Dividend Fund in the third quarter valued at about $80,000. Stifel Financial Corp acquired a new position in Abrdn Global Dynamic Dividend Fund in the third quarter valued at about $111,000. Rivernorth Capital Management LLC acquired a new position in Abrdn Global Dynamic Dividend Fund in the third quarter valued at about $119,000. Finally, Kapstone Financial Advisors LLC acquired a new position in Abrdn Global Dynamic Dividend Fund in the fourth quarter valued at about $132,000.

About Abrdn Global Dynamic Dividend Fund

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.