abrdn National Municipal Income Fund (NYSE:VFL) Trading 0.1% Higher – Here’s What Happened

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

abrdn National Municipal Income Fund Stock Performance

The firm has a 50 day moving average price of $10.28 and a two-hundred day moving average price of $10.23.

abrdn National Municipal Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 29th were issued a dividend of $0.024 per share. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 29th.

Hedge Funds Weigh In On abrdn National Municipal Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of VFL. Wealth Enhancement Advisory Services LLC increased its stake in abrdn National Municipal Income Fund by 3.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 59,705 shares of the company’s stock worth $608,000 after purchasing an additional 1,827 shares in the last quarter. PFG Investments LLC purchased a new stake in abrdn National Municipal Income Fund during the fourth quarter valued at about $154,000. Matisse Capital lifted its stake in abrdn National Municipal Income Fund by 2.8% during the fourth quarter. Matisse Capital now owns 174,693 shares of the company’s stock valued at $1,794,000 after buying an additional 4,693 shares in the last quarter. Riverbridge Partners LLC boosted its holdings in shares of abrdn National Municipal Income Fund by 10.8% in the first quarter. Riverbridge Partners LLC now owns 194,085 shares of the company’s stock worth $1,933,000 after buying an additional 18,933 shares during the period. Finally, Rivernorth Capital Management LLC boosted its holdings in shares of abrdn National Municipal Income Fund by 20.8% in the first quarter. Rivernorth Capital Management LLC now owns 215,995 shares of the company’s stock worth $2,151,000 after buying an additional 37,141 shares during the period.

About abrdn National Municipal Income Fund

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.