Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Short Interest Up 500.3% in January

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

Abrdn Global Dynamic Dividend Fund Trading Down 0.4 %

Shares of AGD traded down $0.05 during midday trading on Wednesday, hitting $10.27. 66,533 shares of the stock were exchanged, compared to its average volume of 144,200. Abrdn Global Dynamic Dividend Fund has a 52-week low of $9.10 and a 52-week high of $10.68. The stock has a fifty day simple moving average of $10.06 and a 200 day simple moving average of $10.17.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 12.86%.

Institutional Investors Weigh In On Abrdn Global Dynamic Dividend Fund

Large investors have recently modified their holdings of the stock. Pathstone Holdings LLC increased its stake in shares of Abrdn Global Dynamic Dividend Fund by 28.5% during the 3rd quarter. Pathstone Holdings LLC now owns 408,798 shares of the company’s stock worth $4,343,000 after purchasing an additional 90,780 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Abrdn Global Dynamic Dividend Fund by 0.9% during the 4th quarter. LPL Financial LLC now owns 168,102 shares of the company’s stock worth $1,647,000 after purchasing an additional 1,481 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Abrdn Global Dynamic Dividend Fund in the 4th quarter valued at $1,310,000. Absolute Investment Advisers LLC purchased a new stake in shares of Abrdn Global Dynamic Dividend Fund in the fourth quarter valued at $1,270,000. Finally, Park Avenue Securities LLC increased its stake in Abrdn Global Dynamic Dividend Fund by 6.9% in the fourth quarter. Park Avenue Securities LLC now owns 70,848 shares of the company’s stock valued at $694,000 after purchasing an additional 4,589 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.