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) passed above its 50-day moving average during trading on Thursday . The stock has a 50-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 trading hands.

Abrdn Global Dynamic Dividend Fund Stock Down 0.1 %

The business has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $10.16.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a $0.11 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.32 dividend on an annualized basis and a yield of 12.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGD. Sanctuary Advisors LLC purchased a new position in Abrdn Global Dynamic Dividend Fund in the 2nd quarter valued at $452,000. Pathstone Holdings LLC lifted its holdings in Abrdn Global Dynamic Dividend Fund by 28.5% in the 3rd quarter. Pathstone Holdings LLC now owns 408,798 shares of the company’s stock valued at $4,343,000 after purchasing an additional 90,780 shares in the last quarter. Rivernorth Capital Management LLC purchased a new position in Abrdn Global Dynamic Dividend Fund in the 3rd quarter valued at $119,000. Stifel Financial Corp purchased a new position in Abrdn Global Dynamic Dividend Fund in the 3rd quarter valued at $111,000. Finally, TD Private Client Wealth LLC purchased a new position in shares of Abrdn Global Dynamic Dividend Fund during the 3rd quarter worth $80,000.

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.