abrdn National Municipal Income Fund (NYSE:VFL) Stock Price Up 0.1% – What’s Next?

abrdn National Municipal Income Fund (NYSE:VFL) was up 0.1% during trading on Friday . The company traded as high as $10.41 and last traded at $10.32. Approximately 29,736 shares traded hands during trading, a decline of 13% from the average session volume of 34,027 shares. The stock had previously closed at $10.31.

abrdn National Municipal Income Fund Stock Performance

The firm’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $10.23.

abrdn National Municipal Income Fund Cuts Dividend

The firm also recently announced 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 of this dividend was Monday, June 29th. This represents a c) annualized dividend and a dividend yield of 2.8%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of abrdn National Municipal Income Fund in the 2nd quarter valued at about $69,000. Van ECK Associates Corp grew its position in abrdn National Municipal Income Fund by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 90,634 shares of the company’s stock worth $930,000 after acquiring an additional 5,185 shares during the last quarter. Pathstone Holdings LLC grew its position 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 acquiring an additional 44,665 shares during the last quarter. Williams Jones Wealth Management LLC. purchased a new position in abrdn National Municipal Income Fund in the 3rd quarter worth approximately $130,000. Finally, NewEdge Advisors LLC purchased a new position in abrdn National Municipal Income Fund in the 3rd quarter worth approximately $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.