Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Short Interest Up 332.1% in August

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 56,600 shares, a growth of 332.1% from the July 31st total of 13,100 shares. Based on an average trading volume of 69,900 shares, the short-interest ratio is currently 0.8 days.

Abrdn Global Dynamic Dividend Fund Price Performance

AGD traded up $0.06 during trading on Thursday, hitting $10.25. The company’s stock had a trading volume of 5,273 shares, compared to its average volume of 61,888. Abrdn Global Dynamic Dividend Fund has a twelve month low of $8.20 and a twelve month high of $10.42. The stock’s fifty day moving average price is $9.92 and its 200-day moving average price is $9.67.

Abrdn Global Dynamic Dividend Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 12.88%. This is a positive change from Abrdn Global Dynamic Dividend Fund’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Friday, August 23rd.

Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund

A number of institutional investors have recently modified their holdings of AGD. Choreo LLC bought a new position in Abrdn Global Dynamic Dividend Fund in the 4th quarter valued at $720,000. Cornerstone Advisors LLC grew its stake in Abrdn Global Dynamic Dividend Fund by 417.8% in the 2nd quarter. Cornerstone Advisors LLC now owns 70,067 shares of the company’s stock valued at $684,000 after purchasing an additional 56,536 shares during the period. International Assets Investment Management LLC bought a new position in Abrdn Global Dynamic Dividend Fund in the 4th quarter valued at $412,000. Karpus Management Inc. grew its stake in Abrdn Global Dynamic Dividend Fund by 4.5% in the 4th quarter. Karpus Management Inc. now owns 632,505 shares of the company’s stock valued at $5,908,000 after purchasing an additional 27,125 shares during the period. Finally, Brookstone Capital Management bought a new position in shares of Abrdn Global Dynamic Dividend Fund during the 2nd quarter worth $186,000.

About Abrdn Global Dynamic Dividend Fund

Abrdn Global Dynamic Dividend Fund is a closed ended equity mutual fund launched and managed by Alpine Woods Capital Investors, LLC. It invests in the public equity markets across the globe. The fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies across all market capitalizations.