Short Interest in Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Rises By 500.3%

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 176,500 shares, a growth of 500.3% from the January 15th total of 29,400 shares. Based on an average daily volume of 126,900 shares, the days-to-cover ratio is presently 1.4 days.

Abrdn Global Dynamic Dividend Fund Trading Down 0.4 %

AGD stock traded down $0.05 during trading on Wednesday, reaching $10.27. 66,533 shares of the company’s stock were exchanged, compared to its average volume of 144,200. Abrdn Global Dynamic Dividend Fund has a 1-year low of $9.10 and a 1-year high of $10.68. The company’s fifty day moving average price is $10.06 and its 200-day moving average price is $10.17.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 12.86%. The ex-dividend date was Friday, January 24th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc grew its stake in shares of Abrdn Global Dynamic Dividend Fund by 625.0% in the 4th quarter. IFP Advisors Inc now owns 2,900 shares of the company’s stock worth $28,000 after purchasing an additional 2,500 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in shares of Abrdn Global Dynamic Dividend Fund during the 3rd quarter worth $80,000. Stifel Financial Corp acquired a new position in shares of Abrdn Global Dynamic Dividend Fund in the 3rd quarter worth $111,000. Rivernorth Capital Management LLC acquired a new position in shares of Abrdn Global Dynamic Dividend Fund in the 3rd quarter valued at $119,000. Finally, Kapstone Financial Advisors LLC acquired a new stake in Abrdn Global Dynamic Dividend Fund during the 4th quarter worth 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.