Shares of Abrdn Global Dynamic Dividend Fund (NYSE:AGD – Get Free Report) passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $11.95 and traded as low as $11.11. Abrdn Global Dynamic Dividend Fund shares last traded at $11.2350, with a volume of 91,696 shares changing hands.
Abrdn Global Dynamic Dividend Fund Price Performance
The stock’s 50 day moving average price is $11.93 and its 200 day moving average price is $12.03.
Abrdn Global Dynamic Dividend Fund Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date is Friday, October 23rd.
Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund
Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in shares of Abrdn Global Dynamic Dividend Fund in the second quarter valued at $6,442,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Abrdn Global Dynamic Dividend Fund by 1.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 310,171 shares of the company’s stock worth $3,756,000 after purchasing an additional 3,715 shares during the last quarter. International Assets Investment Management LLC increased its stake in Abrdn Global Dynamic Dividend Fund by 32.2% in the 1st quarter. International Assets Investment Management LLC now owns 187,227 shares of the company’s stock valued at $2,059,000 after buying an additional 45,632 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Abrdn Global Dynamic Dividend Fund by 21.4% in the 1st quarter. Royal Bank of Canada now owns 183,901 shares of the company’s stock worth $1,986,000 after buying an additional 32,424 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Abrdn Global Dynamic Dividend Fund by 3.0% during the second quarter. HighTower Advisors LLC now owns 32,240 shares of the company’s stock valued at $390,000 after acquiring an additional 926 shares during the last quarter.
About Abrdn Global Dynamic Dividend Fund
abrdn Global Dynamic Dividend Fund (NYSE: AGD) is a closed-end investment fund that seeks to provide investors with current income and long-term growth of capital. The fund invests primarily in dividend-paying equity securities issued by companies around the world.
Its portfolio may include common stocks, preferred securities, real estate investment trusts and other income-producing investments. The fund uses a flexible, globally diversified approach, allowing it to invest across industries, companies and geographic regions as its investment managers identify opportunities for dividend income and capital appreciation.
The fund was launched in 2006 and was formerly known as Alpine Global Dynamic Dividend Fund before becoming associated with Aberdeen, now abrdn.
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