abrdn Global Premier Properties Fund (NYSE:AWP) Shares Cross Above 50 Day Moving Average – Here’s What Happened

abrdn Global Premier Properties Fund (NYSE:AWP) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.78 and traded as high as $12.62. abrdn Global Premier Properties Fund shares last traded at $12.55, with a volume of 333,919 shares.

abrdn Global Premier Properties Fund Trading Up 0.2%

The business’s fifty day simple moving average is $11.78 and its 200-day simple moving average is $11.78.

abrdn Global Premier Properties Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be paid a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date is Friday, February 20th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of abrdn Global Premier Properties Fund by 10.7% during the first quarter. Royal Bank of Canada now owns 346,780 shares of the investment management company’s stock valued at $1,345,000 after buying an additional 33,531 shares during the period. Geneos Wealth Management Inc. increased its holdings in abrdn Global Premier Properties Fund by 582.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 9,382 shares of the investment management company’s stock worth $36,000 after acquiring an additional 8,008 shares during the period. Penserra Capital Management LLC lifted its stake in abrdn Global Premier Properties Fund by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,346,351 shares of the investment management company’s stock worth $9,291,000 after purchasing an additional 69,339 shares in the last quarter. Allworth Financial LP lifted its stake in abrdn Global Premier Properties Fund by 1,247.4% in the 2nd quarter. Allworth Financial LP now owns 10,442 shares of the investment management company’s stock worth $41,000 after purchasing an additional 9,667 shares in the last quarter. Finally, Samalin Investment Counsel LLC grew its position in shares of abrdn Global Premier Properties Fund by 6.0% during the 2nd quarter. Samalin Investment Counsel LLC now owns 254,959 shares of the investment management company’s stock valued at $1,010,000 after purchasing an additional 14,341 shares in the last quarter.

abrdn Global Premier Properties Fund Company Profile

abrdn Global Premier Properties Fund (NYSE: AWP) is a publicly traded, closed-end investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund is managed by abrdn plc, a global asset manager, and primarily invests in equity and debt securities of real estate companies and real estate investment trusts (REITs) worldwide. By trading its shares on the New York Stock Exchange, AWP offers investors access to a diversified portfolio of real estate assets without the need to directly acquire or manage physical properties.

The fund’s investment strategy emphasizes bottom-up security selection, targeting companies that offer attractive dividend yields, earnings growth potential and stable cash flows.