Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Sees Significant Drop in Short Interest

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 164,100 shares, a decrease of 13.9% from the February 28th total of 190,600 shares. Based on an average daily volume of 115,000 shares, the days-to-cover ratio is currently 1.4 days.

Abrdn Global Dynamic Dividend Fund Stock Up 0.2 %

NYSE:AGD traded up $0.02 on Wednesday, reaching $9.96. 26,784 shares of the stock traded hands, compared to its average volume of 86,612. Abrdn Global Dynamic Dividend Fund has a 12 month low of $9.10 and a 12 month high of $10.68. The company’s fifty day simple moving average is $10.20 and its 200 day simple moving average is $10.20.

Abrdn Global Dynamic Dividend Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 25th were given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 13.25%. The ex-dividend date was Tuesday, March 25th.

Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sit Investment Associates Inc. raised its stake in shares of Abrdn Global Dynamic Dividend Fund by 36.0% in the fourth quarter. Sit Investment Associates Inc. now owns 233,566 shares of the company’s stock worth $2,289,000 after purchasing an additional 61,764 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Abrdn Global Dynamic Dividend Fund by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 68,534 shares of the company’s stock valued at $672,000 after acquiring an additional 2,668 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Abrdn Global Dynamic Dividend Fund during the 4th quarter valued at about $1,310,000. Virtu Financial LLC bought a new stake in shares of Abrdn Global Dynamic Dividend Fund in the fourth quarter worth approximately $161,000. Finally, Argentarii LLC purchased a new position in shares of Abrdn Global Dynamic Dividend Fund during the fourth quarter valued at approximately $203,000.

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.