Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Stock Price Passes Above 50-Day Moving Average of $10.00

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.00 and traded as high as $10.12. Abrdn Global Dynamic Dividend Fund shares last traded at $10.12, with a volume of 65,220 shares.

Abrdn Global Dynamic Dividend Fund Stock Performance

The firm’s 50-day simple moving average is $10.03 and its two-hundred day simple moving average is $9.73.

Abrdn Global Dynamic Dividend Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 12.89%. The ex-dividend date of this dividend is Monday, September 23rd.

Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its holdings in shares of Abrdn Global Dynamic Dividend Fund by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 68,605 shares of the company’s stock worth $670,000 after acquiring an additional 2,816 shares in the last quarter. Logan Stone Capital LLC raised its holdings in shares of Abrdn Global Dynamic Dividend Fund by 7.2% during the second quarter. Logan Stone Capital LLC now owns 106,092 shares of the company’s stock worth $1,035,000 after acquiring an additional 7,092 shares in the last quarter. Novak & Powell Financial Services Inc. purchased a new stake in shares of Abrdn Global Dynamic Dividend Fund during the fourth quarter worth $103,000. Quantedge Capital Pte Ltd raised its holdings in shares of Abrdn Global Dynamic Dividend Fund by 64.4% during the fourth quarter. Quantedge Capital Pte Ltd now owns 35,500 shares of the company’s stock worth $332,000 after acquiring an additional 13,900 shares in the last quarter. Finally, Brookstone Capital Management purchased a new stake in shares of Abrdn Global Dynamic Dividend Fund during the second 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.