abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) Sees Large Growth in Short Interest

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 367,520 shares, an increase of 45.2% from the January 15th total of 253,039 shares. Based on an average daily volume of 188,870 shares, the days-to-cover ratio is presently 1.9 days. Currently, 3.3% of the company’s stock are short sold. Currently, 3.3% of the company’s stock are short sold. Based on an average daily volume of 188,870 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Trading of abrdn Global Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in FCO. Susquehanna International Group LLP boosted its holdings in abrdn Global Income Fund by 167.1% during the third quarter. Susquehanna International Group LLP now owns 53,629 shares of the company’s stock worth $160,000 after purchasing an additional 33,547 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in abrdn Global Income Fund during the 2nd quarter worth about $118,000. Landscape Capital Management L.L.C. acquired a new position in shares of abrdn Global Income Fund during the 3rd quarter worth about $47,000. Total Wealth Planning & Management Inc. bought a new position in shares of abrdn Global Income Fund in the 4th quarter valued at about $42,000. Finally, Virtu Financial LLC acquired a new stake in shares of abrdn Global Income Fund in the third quarter valued at about $36,000. 10.79% of the stock is currently owned by institutional investors and hedge funds.

abrdn Global Income Fund Trading Up 0.3%

Shares of NYSEAMERICAN:FCO traded up $0.01 during midday trading on Monday, reaching $3.09. 114,483 shares of the company were exchanged, compared to its average volume of 148,946. abrdn Global Income Fund has a fifty-two week low of $2.73 and a fifty-two week high of $6.77. The stock has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $3.78.

abrdn Global Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a $0.07 dividend. This represents a c) dividend on an annualized basis and a yield of 27.2%. The ex-dividend date of this dividend is Friday, February 20th.

About abrdn Global Income Fund

abrdn Global Income Fund (NYSE American: FCO) is a closed-end management investment company that seeks to provide investors with high current income and the potential for capital appreciation. Managed by abrdn’s global investment team, the fund pursues a diversified strategy across both fixed-income and equity markets. It is structured to deliver monthly distributions by combining income-generating securities with active portfolio management and selective use of leverage.

The fund’s core holdings typically include a broad range of global corporate bonds, convertible securities, preferred stocks and high-yield credit.