abrdn National Municipal Income Fund (NYSE:VFL) Shares Down 0.6% – Here’s What Happened

Shares of abrdn National Municipal Income Fund (NYSE:VFL) traded down 0.6% on Friday . The company traded as low as $10.30 and last traded at $10.31. Approximately 29,736 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 34,027 shares. The stock had previously closed at $10.37.

abrdn National Municipal Income Fund Stock Performance

The firm has a 50-day moving average price of $10.24 and a two-hundred day moving average price of $10.22.

abrdn National Municipal Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 29th were issued a dividend of $0.024 per share. The ex-dividend date was Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 2.8%.

Hedge Funds Weigh In On abrdn National Municipal Income Fund

A number of hedge funds have recently added to or reduced their stakes in VFL. Raymond James Financial Inc. bought a new stake in shares of abrdn National Municipal Income Fund during the second quarter valued at approximately $69,000. Van ECK Associates Corp grew its stake in abrdn National Municipal Income Fund by 6.1% in the third quarter. Van ECK Associates Corp now owns 90,634 shares of the company’s stock worth $930,000 after purchasing an additional 5,185 shares in the last quarter. Pathstone Holdings LLC increased its holdings in abrdn National Municipal Income Fund by 24.9% during the 3rd quarter. Pathstone Holdings LLC now owns 224,322 shares of the company’s stock worth $2,302,000 after purchasing an additional 44,665 shares during the period. Williams Jones Wealth Management LLC. purchased a new position in abrdn National Municipal Income Fund during the 3rd quarter worth $130,000. Finally, NewEdge Advisors LLC bought a new stake in abrdn National Municipal Income Fund during the 3rd quarter valued at $202,000.

abrdn National Municipal Income Fund Company Profile

abrdn National Municipal Income Fund (NYSE: VFL) is a diversified, closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a portfolio of municipal securities, including general obligation bonds, revenue bonds and other debt obligations issued by state and local governments across the United States.

The fund’s investment strategy emphasizes a combination of bottom-up credit research and sector allocation to build a tax-exempt portfolio.