Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Trading 1.7% Higher – Still a Buy?

Abrdn Global Infrastructure Income Fund (NYSE:ASGI)’s stock price traded up 1.7% during trading on Wednesday . The company traded as high as $22.90 and last traded at $22.6460. 127,763 shares were traded during trading, a decline of 36% from the average session volume of 198,365 shares. The stock had previously closed at $22.26.

Abrdn Global Infrastructure Income Fund Stock Performance

The company has a 50-day moving average of $23.88 and a 200-day moving average of $23.65.

Abrdn Global Infrastructure Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were paid a dividend of $0.22 per share. This represents a c) dividend on an annualized basis and a yield of 11.7%. The ex-dividend date of this dividend was Monday, August 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its holdings in Abrdn Global Infrastructure Income Fund by 816,720.0% in the first quarter. Fifth Third Bancorp now owns 122,523 shares of the company’s stock worth $2,740,000 after purchasing an additional 122,508 shares during the period. Evolve Private Wealth LLC acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the fourth quarter valued at approximately $1,821,000. Equitable Holdings Inc. raised its holdings in Abrdn Global Infrastructure Income Fund by 13.1% during the third quarter. Equitable Holdings Inc. now owns 630,412 shares of the company’s stock worth $13,321,000 after purchasing an additional 73,221 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Abrdn Global Infrastructure Income Fund by 52.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 142,637 shares of the company’s stock worth $3,316,000 after purchasing an additional 49,339 shares during the period. Finally, Closed End Fund Advisors Inc. acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the 4th quarter valued at $1,022,000.

About Abrdn Global Infrastructure Income Fund

Abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a closed-end management investment company that seeks to deliver both current income and potential capital appreciation by investing in a diversified portfolio of global infrastructure securities. The fund provides investors with exposure to companies and projects that operate essential infrastructure assets such as utilities, energy networks, transportation systems, and communications facilities. Shares of ASGI trade on the New York Stock Exchange, offering market-based liquidity for investors seeking infrastructure income strategies.

The fund’s investment approach combines equity and debt instruments issued by infrastructure issuers in developed and select emerging markets.