Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Sees Large Growth in Short Interest

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 40,296 shares, a growth of 31.7% from the December 31st total of 30,604 shares. Based on an average daily volume of 152,478 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 152,478 shares, the days-to-cover ratio is presently 0.3 days.

Abrdn Global Dynamic Dividend Fund Trading Down 0.0%

Abrdn Global Dynamic Dividend Fund stock traded down $0.01 during mid-day trading on Monday, hitting $12.40. The company’s stock had a trading volume of 75,289 shares, compared to its average volume of 146,023. The stock’s fifty day moving average price is $11.91 and its two-hundred day moving average price is $11.94. Abrdn Global Dynamic Dividend Fund has a twelve month low of $8.46 and a twelve month high of $13.98.

Abrdn Global Dynamic Dividend Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date was Friday, January 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its stake in Abrdn Global Dynamic Dividend Fund by 24.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 276,378 shares of the company’s stock valued at $3,223,000 after purchasing an additional 55,030 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Abrdn Global Dynamic Dividend Fund by 46.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,615 shares of the company’s stock valued at $192,000 after acquiring an additional 4,953 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Abrdn Global Dynamic Dividend Fund during the 3rd quarter worth about $217,000. Ameriprise Financial Inc. raised its stake in shares of Abrdn Global Dynamic Dividend Fund by 194.1% in the third quarter. Ameriprise Financial Inc. now owns 70,771 shares of the company’s stock valued at $913,000 after acquiring an additional 46,711 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Abrdn Global Dynamic Dividend Fund by 5.4% in the third quarter. Bank of America Corp DE now owns 573,938 shares of the company’s stock worth $7,645,000 after purchasing an additional 29,637 shares in the last quarter.

About Abrdn Global Dynamic Dividend Fund

Abrdn Global Dynamic Dividend Fund (NYSE: AGD) is a closed-end investment company that seeks to deliver a high level of current income along with the potential for capital appreciation. Managed by abrdn Investment Management Limited, the fund employs an active, research-driven approach to build a diversified portfolio of equity securities issued by companies around the world that demonstrate sustainable dividend payment histories.

The fund’s investment strategy combines top-down macroeconomic insights with bottom-up company analysis.