Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Sees Large Growth in Short Interest

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the recipient of a large increase in short interest during the month of 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 daily volume of 189,300 shares, the days-to-cover ratio is presently 0.3 days.

Abrdn Global Infrastructure Income Fund Stock Up 0.3 %

Shares of ASGI stock traded up $0.06 on Friday, hitting $18.02. 133,834 shares of the stock were exchanged, compared to its average volume of 133,276. Abrdn Global Infrastructure Income Fund has a one year low of $16.58 and a one year high of $20.35. The firm’s 50 day moving average is $17.82 and its two-hundred day moving average is $18.96.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a dividend of $0.19 per share. The ex-dividend date was Friday, February 21st. This represents a $2.28 annualized dividend and a dividend yield of 12.66%.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 28,901 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $19.82, for a total transaction of $572,817.82. Following the completion of the sale, the insider now directly owns 2,731,436 shares of the company’s stock, valued at $54,137,061.52. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas W. Hunersen bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were acquired at an average cost of $17.67 per share, with a total value of $88,350.00. Following the completion of the transaction, the director now owns 6,000 shares in the company, 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. Insiders sold a total of 65,949 shares of company stock valued at $1,303,541 in the last ninety days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CoreFirst Bank & Trust bought a new position in shares of Abrdn Global Infrastructure Income Fund during the 4th quarter worth $33,000. Millstone Evans Group LLC bought a new position in Abrdn Global Infrastructure Income Fund in the 4th quarter worth about $34,000. K2 Principal Fund L.P. bought a new position in Abrdn Global Infrastructure Income Fund in the 4th quarter worth about $175,000. Jane Street Group LLC bought a new position in Abrdn Global Infrastructure Income Fund in the 4th quarter worth about $178,000. Finally, Moors & Cabot Inc. bought a new position in Abrdn Global Infrastructure Income Fund in the 3rd quarter worth about $208,000.

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.