Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Shares Shorted: Short Interest Down 41.4% in September

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 53,082 shares, a decrease of 41.4% from the August 31st total of 90,562 shares. Based on an average trading volume of 74,677 shares, the short-interest ratio is presently 0.7 days.

Abrdn Global Dynamic Dividend Fund Price Performance

AGD traded down $0.07 during trading on Wednesday, hitting $11.73. The stock had a trading volume of 110,595 shares, compared to its average volume of 112,746. The stock has a 50 day simple moving average of $12.13 and a two-hundred day simple moving average of $12.06. Abrdn Global Dynamic Dividend Fund has a twelve month low of $10.41 and a twelve month high of $13.98.

Abrdn Global Dynamic Dividend Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a dividend yield of 12.3%. The ex-dividend date is Tuesday, September 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in Abrdn Global Dynamic Dividend Fund during the 2nd quarter valued at about $6,442,000. International Assets Investment Management LLC boosted its holdings in Abrdn Global Dynamic Dividend Fund by 32.2% in the first quarter. International Assets Investment Management LLC now owns 187,227 shares of the company’s stock worth $2,059,000 after acquiring an additional 45,632 shares in the last quarter. Royal Bank of Canada boosted its holdings in Abrdn Global Dynamic Dividend Fund by 21.4% in the first quarter. Royal Bank of Canada now owns 183,901 shares of the company’s stock worth $1,986,000 after acquiring an additional 32,424 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of Abrdn Global Dynamic Dividend Fund during the second quarter worth about $156,000. Finally, Absolute Investment Advisers LLC purchased a new stake in shares of Abrdn Global Dynamic Dividend Fund during the first quarter worth about $130,000.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund (NYSE: AGD) is a diversified, closed-end investment company that seeks to provide a high level of current income while also pursuing long-term capital appreciation. The fund is managed by abrdn and invests in a portfolio of securities issued by companies and other entities around the world.

The fund generally emphasizes dividend-paying equity securities, including common and preferred stocks, while retaining flexibility to invest in other income-producing assets and securities that may support its total-return objective.