abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) Short Interest Update

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 31,500 shares, a decline of 36.0% from the February 29th total of 49,200 shares. Based on an average daily trading volume, of 96,100 shares, the days-to-cover ratio is currently 0.3 days.

abrdn Global Income Fund Stock Up 0.6 %

Shares of NYSEAMERICAN FCO traded up $0.03 during midday trading on Friday, reaching $5.43. 59,855 shares of the company were exchanged, compared to its average volume of 76,288. abrdn Global Income Fund has a one year low of $4.73 and a one year high of $6.63.

abrdn Global Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 15.47%.

Hedge Funds Weigh In On abrdn Global Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of FCO. Wells Fargo & Company MN raised its holdings in shares of abrdn Global Income Fund by 5.7% during the second quarter. Wells Fargo & Company MN now owns 541,449 shares of the company’s stock valued at $3,227,000 after purchasing an additional 28,968 shares during the period. Bank of America Corp DE raised its holdings in shares of abrdn Global Income Fund by 9.9% during the first quarter. Bank of America Corp DE now owns 78,441 shares of the company’s stock valued at $481,000 after purchasing an additional 7,087 shares during the period. NewEdge Advisors LLC increased its position in shares of abrdn Global Income Fund by 9.4% during the first quarter. NewEdge Advisors LLC now owns 76,000 shares of the company’s stock worth $466,000 after acquiring an additional 6,500 shares in the last quarter. Morgan Stanley increased its position in shares of abrdn Global Income Fund by 9.6% during the fourth quarter. Morgan Stanley now owns 60,342 shares of the company’s stock worth $291,000 after acquiring an additional 5,270 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of abrdn Global Income Fund by 817.3% during the second quarter. Osaic Holdings Inc. now owns 49,523 shares of the company’s stock worth $295,000 after acquiring an additional 44,124 shares in the last quarter. Institutional investors and hedge funds own 10.79% of the company’s stock.

About abrdn Global Income Fund

Abrdn Global Income Fund Inc is a closed-ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets across the globe.