abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) Sees Significant Growth in Short Interest

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) was the recipient of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 367,520 shares, a growth of 45.2% from the January 15th total of 253,039 shares. Based on an average daily trading volume, of 188,870 shares, the short-interest ratio is currently 1.9 days. Approximately 3.3% of the company’s shares are sold short. Approximately 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 188,870 shares, the short-interest ratio is currently 1.9 days.

abrdn Global Income Fund Trading Up 0.3%

Shares of FCO stock opened at $3.09 on Tuesday. The business’s 50 day simple moving average is $3.00 and its 200 day simple moving average is $3.76. abrdn Global Income Fund has a one year low of $2.73 and a one year high of $6.77.

abrdn Global Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 27.2%.

Hedge Funds Weigh In On abrdn Global Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. grew its holdings in abrdn Global Income Fund by 12.0% during the 2nd quarter. Osaic Holdings Inc. now owns 14,402 shares of the company’s stock worth $92,000 after acquiring an additional 1,547 shares during the period. Integrity Advisory Solutions LLC bought a new stake in shares of abrdn Global Income Fund during the 3rd quarter valued at about $34,000. Oppenheimer & Co. Inc. grew its stake in abrdn Global Income Fund by 10.6% during the third quarter. Oppenheimer & Co. Inc. now owns 123,036 shares of the company’s stock worth $367,000 after purchasing an additional 11,819 shares during the period. Virtu Financial LLC acquired a new stake in abrdn Global Income Fund during the third quarter worth approximately $36,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in abrdn Global Income Fund in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 10.79% of the company’s stock.

abrdn Global Income Fund Company Profile

abrdn Global Income Fund (NYSE American: FCO) is a closed-end management investment company that seeks to provide investors with high current income and the potential for capital appreciation. Managed by abrdn’s global investment team, the fund pursues a diversified strategy across both fixed-income and equity markets. It is structured to deliver monthly distributions by combining income-generating securities with active portfolio management and selective use of leverage.

The fund’s core holdings typically include a broad range of global corporate bonds, convertible securities, preferred stocks and high-yield credit.