Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.05 and traded as high as $10.33. Abrdn Global Dynamic Dividend Fund shares last traded at $10.32, with a volume of 109,598 shares traded.

Abrdn Global Dynamic Dividend Fund Trading Up 1.1 %

The business has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $10.14.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 12.80%. The ex-dividend date is Friday, January 24th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new stake in shares of Abrdn Global Dynamic Dividend Fund in the third quarter valued at approximately $80,000. Stifel Financial Corp acquired a new position in Abrdn Global Dynamic Dividend Fund during the 3rd quarter valued at $111,000. Rivernorth Capital Management LLC bought a new stake in Abrdn Global Dynamic Dividend Fund in the 3rd quarter valued at $119,000. Sanctuary Advisors LLC acquired a new stake in Abrdn Global Dynamic Dividend Fund in the 2nd quarter worth $452,000. Finally, Park Avenue Securities LLC increased its holdings in shares of Abrdn Global Dynamic Dividend Fund by 6.9% during the 4th quarter. Park Avenue Securities LLC now owns 70,848 shares of the company’s stock worth $694,000 after purchasing an additional 4,589 shares during the period.

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.