abrdn Global Premier Properties Fund (NYSE:AWP) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of abrdn Global Premier Properties Fund (NYSE:AWP) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $11.78 and traded as high as $12.62. abrdn Global Premier Properties Fund shares last traded at $12.55, with a volume of 333,919 shares traded.

abrdn Global Premier Properties Fund Stock Performance

The company has a 50-day moving average of $11.78 and a 200 day moving average of $11.78.

abrdn Global Premier Properties Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 11.5%.

Institutional Investors Weigh In On abrdn Global Premier Properties Fund

A number of institutional investors and hedge funds have recently bought and sold shares of AWP. OneAscent Financial Services LLC grew its stake in abrdn Global Premier Properties Fund by 120.0% in the 3rd quarter. OneAscent Financial Services LLC now owns 359,064 shares of the investment management company’s stock worth $1,425,000 after buying an additional 195,831 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of abrdn Global Premier Properties Fund during the 3rd quarter valued at $514,000. Millennium Management LLC bought a new stake in shares of abrdn Global Premier Properties Fund during the 3rd quarter worth $457,000. Wells Fargo & Company MN grew its position in abrdn Global Premier Properties Fund by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,311,722 shares of the investment management company’s stock worth $5,037,000 after acquiring an additional 105,451 shares in the last quarter. Finally, AlphaCore Capital LLC increased its stake in abrdn Global Premier Properties Fund by 53.8% in the second quarter. AlphaCore Capital LLC now owns 249,848 shares of the investment management company’s stock valued at $989,000 after acquiring an additional 87,435 shares during the last quarter.

About abrdn Global Premier Properties Fund

abrdn Global Premier Properties Fund (NYSE: AWP) is a publicly traded, closed-end investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund is managed by abrdn plc, a global asset manager, and primarily invests in equity and debt securities of real estate companies and real estate investment trusts (REITs) worldwide. By trading its shares on the New York Stock Exchange, AWP offers investors access to a diversified portfolio of real estate assets without the need to directly acquire or manage physical properties.

The fund’s investment strategy emphasizes bottom-up security selection, targeting companies that offer attractive dividend yields, earnings growth potential and stable cash flows.