Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Short Interest Update

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 49,900 shares, an increase of 82.1% from the January 31st total of 27,400 shares. Based on an average trading volume of 189,300 shares, the days-to-cover ratio is currently 0.3 days.

Abrdn Global Infrastructure Income Fund Price Performance

ASGI traded up $0.08 during mid-day trading on Monday, reaching $18.07. 76,539 shares of the stock were exchanged, compared to its average volume of 198,190. Abrdn Global Infrastructure Income Fund has a 1 year low of $16.58 and a 1 year high of $20.35. The company has a 50 day moving average price of $17.82 and a two-hundred day moving average price of $18.96.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 12.62%. The ex-dividend date was Friday, February 21st.

Insider Activity

In other Abrdn Global Infrastructure Income Fund news, major shareholder Saba Capital Management, L.P. sold 20,860 shares of Abrdn Global Infrastructure Income Fund stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $19.68, for a total transaction of $410,524.80. Following the completion of the transaction, the insider now owns 2,702,703 shares in the company, valued at approximately $53,189,195.04. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas W. Hunersen acquired 5,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was bought at an average cost of $17.67 per share, with a total value of $88,350.00. Following the completion of the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $106,020. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Abrdn Global Infrastructure Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in shares of Abrdn Global Infrastructure Income Fund during the third quarter valued at approximately $14,453,000. International Assets Investment Management LLC bought a new position in Abrdn Global Infrastructure Income Fund in the 3rd quarter valued at $5,175,000. Raymond James Financial Inc. bought a new position in Abrdn Global Infrastructure Income Fund in the 4th quarter valued at $1,635,000. Comerica Bank increased its position in shares of Abrdn Global Infrastructure Income Fund by 6,884.0% during the 4th quarter. Comerica Bank now owns 56,710 shares of the company’s stock valued at $994,000 after purchasing an additional 55,898 shares during the last quarter. Finally, Shaker Financial Services LLC bought a new stake in shares of Abrdn Global Infrastructure Income Fund during the 4th quarter worth $748,000.

About Abrdn Global Infrastructure Income Fund

Aberdeen Standard Global Infrastructure Income Fund seeks to provide a high level of total return with an emphasis on current income by investing in assets that provide necessary services to society.

The Fund seeks to achieve its investment objective by investing in a portfolio of income-producing public and private
infrastructure equity investments from around the world.