Short Interest in Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Expands By 500.3%

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 176,500 shares, a growth of 500.3% from the January 15th total of 29,400 shares. Based on an average daily volume of 126,900 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in Abrdn Global Dynamic Dividend Fund by 156.8% during the fourth quarter. Wells Fargo & Company MN now owns 366,562 shares of the company’s stock worth $3,592,000 after purchasing an additional 223,821 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Abrdn Global Dynamic Dividend Fund in the fourth quarter worth $1,310,000. Absolute Investment Advisers LLC purchased a new position in shares of Abrdn Global Dynamic Dividend Fund in the 4th quarter valued at about $1,270,000. Pathstone Holdings LLC lifted its position in shares of Abrdn Global Dynamic Dividend Fund by 28.5% during the 3rd quarter. Pathstone Holdings LLC now owns 408,798 shares of the company’s stock worth $4,343,000 after purchasing an additional 90,780 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Abrdn Global Dynamic Dividend Fund during the 2nd quarter worth about $452,000.

Abrdn Global Dynamic Dividend Fund Stock Down 0.5 %

Shares of AGD opened at $10.26 on Thursday. The firm’s fifty day moving average is $10.06 and its two-hundred day moving average is $10.17. Abrdn Global Dynamic Dividend Fund has a 52-week low of $9.10 and a 52-week high of $10.68.

Abrdn Global Dynamic Dividend Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 12.87%. The ex-dividend date is Friday, February 21st.

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.