Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Sees Significant Decline in Short Interest

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) saw a significant decrease in short interest during the month of October. As of October 30th, there was short interest totaling 55,305 shares, a decrease of 95.1% from the October 15th total of 1,120,519 shares. Based on an average daily volume of 240,574 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Abrdn Global Infrastructure Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Moors & Cabot Inc. increased its position in shares of Abrdn Global Infrastructure Income Fund by 7.2% during the third quarter. Moors & Cabot Inc. now owns 16,282 shares of the company’s stock worth $315,000 after purchasing an additional 1,095 shares in the last quarter. Allworth Financial LP boosted its position in shares of Abrdn Global Infrastructure Income Fund by 44.3% in the 3rd quarter. Allworth Financial LP now owns 2,164 shares of the company’s stock valued at $42,000 after purchasing an additional 664 shares during the period. Wedbush Securities Inc. boosted its position in shares of Abrdn Global Infrastructure Income Fund by 114.9% in the 3rd quarter. Wedbush Securities Inc. now owns 20,651 shares of the company’s stock valued at $399,000 after purchasing an additional 11,040 shares during the period. Retirement Planning Co of New England Inc. boosted its position in shares of Abrdn Global Infrastructure Income Fund by 7.0% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 20,824 shares of the company’s stock valued at $402,000 after purchasing an additional 1,359 shares during the period. Finally, Farther Finance Advisors LLC purchased a new position in Abrdn Global Infrastructure Income Fund during the 3rd quarter worth approximately $830,000.

Abrdn Global Infrastructure Income Fund Stock Down 0.3%

ASGI stock traded down $0.05 during midday trading on Wednesday, reaching $20.77. 73,553 shares of the company were exchanged, compared to its average volume of 215,416. Abrdn Global Infrastructure Income Fund has a 1-year low of $18.90 and a 1-year high of $25.95. The stock’s 50-day simple moving average is $20.14 and its 200 day simple moving average is $22.76.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.21 dividend. This is a negative change from Abrdn Global Infrastructure Income Fund’s previous monthly dividend of $0.22. The ex-dividend date of this dividend is Friday, November 20th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 12.1%.

About Abrdn Global Infrastructure Income Fund

Abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a closed-end investment fund managed by abrdn Inc. The fund seeks to provide investors with a high level of current income and the opportunity for capital appreciation by investing in infrastructure-related assets and companies. ASGI invests globally across infrastructure sectors, including utilities, energy, transportation, communications and other essential services. Its portfolio may include common and preferred stocks, debt securities and other income-producing investments issued by companies involved in developing, owning or operating infrastructure assets.